Spotify Swings to a Second-Quarter Loss, Missing Estimates

Spotify Technology SA swung to a loss in the second quarter, missing analysts’ estimates after the music-streaming service recorded higher-than-expected expenses related to employee compensation.

Earnings dropped to a loss of 42 euro cents per share, the company said in a statement Tuesday, missing analysts projections for a profit of €1.97. Revenue increased about 10% to €4.19 billion ($4.8 billion), compared with Wall Street estimates of €4.27 billion. The Stockholm-based company also gave a forecast for the current quarter that was weaker than analysts had expected.