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Spotify (SPOT) Q2 Premium Subscribers Top 300M, Exceeding 299.2M Estimate; Q3 Revenue Outlook of €5.0B Beats €4.93B Estimate
Spotify's Q2 results showed revenue at €4.78B, slightly missing the €4.79B estimate, with EPS at €2.61. Gross margin for the quarter was 33.4%, and free cash flow reached €797M. Monthly active users (MAUs) were 777M, slightly below the 778.2M estimate. For Q3, the company expects operating income of €670M, below the €677.8M estimate; premium subscribers of 305M, slightly below the 305.3M estimate; MAUs of 788M, below the 793.6M estimate; and a gross margin of 32.9%.
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