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Why Spotify Stock Crashed Today

TheMotleyFool

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Shares of Spotify Technology (NYSE: SPOT), the European streaming music and podcasts giant, closed down 11.5% on Tuesday after reporting a surprise Q2 loss.

Heading into the report, analysts predicted Spotify would earn 2.02 euros per share in profit for the quarter. Instead, Spotify reported a 0.42 euro ($0.48) loss. This was the fourth quarter in a row that Spotify's profits didn't measure up to expectations -- but the first time in 18 months the company actually lost money.

Image source: Getty Images.

Source Fool.com

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