spotify

Shares of the company fell around 6% in premarket trading. Investors closely monitor the company's profitability after price hikes and cost-cutting efforts in recent years amid its growing focus on adding artificial intelligence features to improve discovery and engagement. Spotify expects operating income of €630m for the second quarter, below LSEG-compiled analysts' average estimate of €684m. That sharply contrasted with Spotify's record operating income of €715m in the first quarter, helped by lower payroll taxes. It beat estimates of €681.6m. Such taxes, called social charges, are tied to