LUXEMBOURG (AP) _ Spotify Technology SA (SPOT) on Wednesday reported a loss of $24.1 million in its second quarter.
On a per-share basis, the Luxembourg-based company said it had a loss of 23 cents.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 52 cents per share.
The music-streaming service operator posted revenue of $2.81 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $2.75 billion.
Spotify shares have dropped 25% since the beginning of the year. The stock has fallen 13% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPOT at https://www.zacks.com/ap/SPOT
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