Spotify Tech reported second quarter earnings that missed analysts' expectations on Wednesday and revenue that topped forecasts.
The firm reported earnings per share of $-0.42 on revenue of $1.67B. Analysts polled by expected EPS of $-0.35 on revenue of $1,642M. That compared to EPS of $-2.57 on revenue of $1.48B in the same period a year earlier. The company had reported EPS of $-0.79 on revenue of $1.51B in the previous quarter.
Spotify Tech follows other major Technology sector earnings this month
On July 18, Microsoft reported fourth quarter EPS of $1.37 on revenue of $33.72B, compared to forecasts of EPS of $1.21 on revenue of $32.77B.
Apple earnings beat analysts' expectations on Tuesday, with third quarter EPS of $2.18 on revenue of $53.81B. analysts expected EPS of $2.09 on revenue of $53.3B
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