Jill Goldsmith Co-Business EditorSpotify saw monthly active users jump 29% to 299 million last quarter with boosts in paid and premium subscribers but earnings were squeezed by costs associated with the streaming music giant’s stock price gains.Premium subscribers rose 27% from a year earlier.
Paid subscribers, 138 million, beat Wall Street estimates for the three months ended in June. A growing number of users, 21%, engaged with podcast content where consumption continues to grow at triple digit rates year over year, the company said.Founder-CEO Daniel Ek and executives will discuss the numbers on a conference call at 8 ET.
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