Spotify Revenues Rise 11% on Larger Than Expected Subscriber Growth in Q2 ...Middle East

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Spotify Revenues Rise 11% on Larger Than Expected Subscriber Growth in Q2
Spotify reported its revenues rose 11% for the second quarter as surging monthly active users and growth in premium subscribers tamped down costs from staff cuts in the previous three months. The company’s total revenue €3.2 billion ($3.53 billion) was up 11% from the year ago quarter, or up 14% in constant currency, a measure that strips out the effects of foreign exchange fluctuations. Monthly active users, or the total number of unique visitors to Spotify every month, rose 27% to 551 million in the quarter, while the number of premium subscribers grew 17% to 220 million, up a net of 10 million in the quarter.

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