Spotify's Subscriber Boom Can't Hide Ad Woes: Analyst

Wall Street analysts rerated Spotify Technology SPOT after the company's quarterly results. The stock gained on Wednesday. Spotify posted a loss of 48 cents per share for the second quarter, a considerable deviation from the analyst consensus estimate of a $2.11 profit. Missed revenue projections compounded this earnings shortfall. Quarterly sales reached $4.75 billion (4.19 billion euros), marking a 10% year-over-year increase but falling short of the analyst projection of $4.84 billion. Also Read: Why Spo ...