Spotify Revenue, User Count Up For Second Quarter

Second Quarter Results

SPOTIFY second quarter 2022 financials beat analyst expectations, with revenue up 23% year-over-year to €2.864 billion, and a 19% jump in total monthly active users to 433 million (with premium subscriptions up 14% to 188 million). Operating loss widened from €6 million to €194 million; Free Cash Flow grew from €22 million to €37 million. 

The company also took a €31 million charge for the "Car Thing" device, which it has stopped manufacturing, although remaining stock is still being sold.

SPOTIFY's projections for third quarter are for revenues of €3 billion, monthly active users at €450 million, and operating loss of €218 million.

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