Spotify’s Q2 Montly Active Users Jump 29% To 299 Million, Podcast Engagement Grows; But Losses Widen, Stock Dips
, which will debut on Spotify in September 2020 and become exclusive on the platform later this year, and a multi-year partnership with Warner Bros. and DC to produce and distribute an original slate of narrative scripted podcasts exclusively on Spotify. The Michelle Obama Podcast premiered with former President Barack Obama as a first guest.
Revenue rose 13% to €1.89 billion , shy of estimates. A loss of €1.91 a share widened sharply €0.42 a year earlier on what the company called “social costs.” It means payroll taxes associated with employee salaries and benefits, including share-based compensation, the company is subject to in various countries.
“When the fair market value of our ordinary shares increases on a quarter-to-quarter basis, the accrued expense for social costs will increase,” it explained. It noted that 31% of employees are based in Sweden, where it’s required to pay a 31.42% tax to the government on the profit an employee realizes on the exercise of stock options or the vesting of restricted stock units.
“Our liquidity position and free cash flow remain strong, and we are encouraged with the underlying trends of the business.”Subscribe to
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
The Strategist’s Two-Day (Actually Good) Sale Starts on Wednesday, July 29Tomorrow, keep your eyes on the Strategist, where you can find exclusive deals on editors' most stood-behind products — many of which will be at their best prices ever
Weiterlesen »
29 Pieces Of Clothing So Comfortable, They Might As Well Be PajamasAKA clothes you can take a nap in anytime.
Weiterlesen »
Spotify Hits 299 Million Active Users in Q2, Net Loss Balloons on Stock-Related CostsSpotify’s subscriber growth came in at the top end of expectations, but the company’s bottom line was hit by a 48% increase in operating costs related to stock-related compensation char…
Weiterlesen »
Spotify Hits 138 Million Paid, 299 Million Total UsersThe music streamer's loss widened as stock gains boosted payroll taxes. Advertising revenue beat the firm's forecast and started improving in June, but fell 21 percent for the second quarter amid the coronavirus pandemic.
Weiterlesen »
Spotify Loss Deepens Despite Subscriber, Podcast GrowthSpotify deepened its loss in the three months ended June 30, as its recent stock run-up came with higher-than-expected payroll taxes that offset strong user growth.
Weiterlesen »
European equities could rally 10% on the back of historic fiscal stimulus, Morgan Stanley predictsEuropean stocks could jump 10% on the back of Europe's unprecedented fiscal plan, Morgan Stanley said.
Weiterlesen »