Strange: Spotify Posted Loss, Despite Adding 11 Million Subscribers
Of the company’s 345 million monthly active users in the fourth quarter, 35 percent were in Europe, 24 percent in North America and 22 percent in Latin America, with the remaining 19 percent in the rest of the world.
Spotify announced its fourth-quarter earnings Wednesday morning, and while the streaming audio company said that its premium subscriber count grew 24 percent year over year to 155 million, the company lost the equivalent of .79 cents a share in the last quarter of 2020, which was more than expected by analysts, per Investor Business Daily.
The company, based in Stockholm, reports its annual results in Euros.