Spotify’s paid subscribers rise 20%, quarterly revenue beats estimates
The Hindu
Premium subscribers, which account for most of the company's revenue, hit 165 million, matching analysts' expectations.
Spotify Technology SA beat Wall Street estimates for second-quarter revenue on Wednesday, as the music streaming company reported a 20% jump in paid subscribers for its premium service driven by demand in Europe and North America. (Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) The top end of the company's current-quarter forecast for revenue and premium subscribers were also ahead of expectations.
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