Spotify reaches 777 million active users
Spotify registered 300 million paying subscribers in the quarter.
Streaming giant Spotify said on Aug. 4 that it had 777 million monthly active users at the end of June, 16 million more than in the previous quarter but a million fewer than forecast.
The Swedish company also warned that it expected its growth to slow in the third quarter, saying it anticipated around 11 million new net subscribers.
That cooled investor sentiment, with Spotify shares down 2.6 percent in opening trading on the New York Stock Exchange.
