Spotify Stock Plummets After Disappointing Earnings Report | JQJO

Spotify's shares plummeted over 11% after releasing disappointing Q2 earnings. The company missed Wall Street's revenue and earnings expectations, reporting a net loss of €86 million compared to a profit of €225 million last year. Higher costs and a weaker-than-expected third-quarter revenue guidance of €4.2 billion (versus a projected €4.47 billion) contributed to the stock's sharp decline. This marks Spotify's worst trading day since July 2023.