LUXEMBOURG (AP) — LUXEMBOURG (AP) — Spotify Technology SA (SPOT) on Tuesday reported a loss of $241.4 million in its first quarter.
On a per-share basis, the Luxembourg-based company said it had a loss of $1.24.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of $1.01 per share.
The music-streaming service operator posted revenue of $3.26 billion in the period, which also did not meet Street forecasts. Nine analysts surveyed by Zacks expected $3.39 billion.
_____
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
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
