India, Aug. 4 -- Music streaming platform Spotify Technology S.A. (SPOT) on Tuesday reported a profit in its second quarter, compared to prior year's loss, driven mainly by increased revenues with growth in users. Looking ahead for the third quarter, the company projects sequentially higher income and revenues, and more users.
In the pre-market activity on the NYSE, the shares were losing around 6.2 percent, trading at $456.11.
In the second quarter, net income attributable to owners of the parent was 545 million euros or 2.61 euros per share, compared to prior year's loss of 86 million euros or 0.42 euro per share.
Operating income reached 655 million euros, up 61 percent from 406 million euros a year ago. Operating margin improved to 1...