STOCKHOLM/NEW YORK - Spotify Technology SA said on Wednesday music streaming demand had rebounded from the coronavirus-related weakness it saw at the start of the quarter and its paid subscribers reached 138 million, ahead of Wall Street estimates.
Premium subscribers, which accounts for most of the company's revenue, were up 27% from a year earlier. Analysts on average were expecting the company to have 136.4 million paid subscribers, according to IBES data from Refinitiv. Revenue rose 13% to 1.89 billion euros for the three-months ended June 30, from 1.67 billion euros a year earlier.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Auto parts makers shine spotlight on aluminium's role in electric vehiclesA faster paced energy transition through a speedier shift to electric vehicles has created a new, substantial demand stream for aluminium and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
3M posts 12per cent fall in revenue as coronavirus crisis hammers demandIndustrial conglomerate 3M Co reported a 12per cent drop in quarterly revenue on Tuesday as demand for its products took a hit due to the global ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
We'll pay for tests, Spain's hotels say, amid UK quarantine backlashSpain's hard-hit hotels offered on Monday to pay for foreign tourists to take coronavirus tests, in an effort to lure back visitors worried by a ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Big restaurant chains could see sales rebound this weekMcDonald's Corp , Starbucks Corp , Yum Brands Inc and other big restaurant chains could show improving sales, based on early results from rivals ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Tokyo's daily Covid-19 cases rebound to 266 amid concerns over pace of spreadTOKYO (XINHUA) - The Tokyo metropolitan government reported 266 new cases of coronavirus on Tuesday (July 28), amid rising concerns over the pace of the spread of the infections this month.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Former Malaysia PM Najib Razak sentenced to 12 years in jail following guilty verdict in 1MDB trialKUALA LUMPUR: Former Malaysian prime minister Najib Razak was sentenced to 12 years in jail and fined RM210 million (US$49.38 million) on Tuesday ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »