Spotify hits 696M users, but returned to making a loss

Spotify has posted its latest earnings report, stating that both paid and free users were up more than 10% year-on-year, but the company returned to making a loss …

Spotify announced solid growth in both subscribers and revenue:

• Subscribers climbed 12% Y/Y to 276 million.
• Monthly Active Users grew 11% Y/Y to 696 million.
• Total Revenue increased 10% Y/Y to €4.2 billion.
• Gross Margin improved by 227 bps YoY to 31.5%.
• Operating Income reached…