Spotify added millions of users. Here's why the stock is getting hammered
by Wendy Lee, Los Angeles Times
Jul 25, 2023
2 minutes
Spotify's subscriber numbers are surging. But its share price is not.
Spotify's stock on Tuesday plummeted 14% to $140.24 a share, as the company issued weaker revenue guidance than Wall Street analysts expected.
The Swedish audio company added 10 million subscribers during the second quarter to hit a total of 220 million paying users,
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