Spotify Stock Falls After Music Streamer Misses Earnings Goal Spotify Technology's latest earnings report has sent shockwaves through the market, as the music streaming giant fell short of analyst estimates despite beating expectations on paying subscribers.
The company added 7 million premium subscribers between April and June, surpassing the consensus estimate of 6. 1 million and bringing its total to 300 million worldwide, a 9% year over year increase.
However, this impressive growth was not enough to offset the missed earnings target, causing Spotify's stock to plummet in early trading.