India, July 29 -- Shares of Spotify Technology S.A. (SPOT) were losing around 6 percent in the pre-market activity on the NYSE after the music streaming platform reported Tuesday a loss in its second quarter, compared to prior year's profit, despite higher revenues.
In the second quarter, net loss attributable to owners of the parent was 86 million euros, compared to prior year's profit of 274 million euros. Loss per share was 0.42 euro, compared to profit of 1.33 euros a year ago.
Income before tax plunged to 48 million euros from 270 million euros last year. Finance costs were significantly higher than last year.
However, operating income climbed to 406 million euros from 266 million euros in the prior year. Gross Margin improved by 22...