Spotify (SPOT.US) Q2 performance disappointing, stock price drops over 11%, marking the largest single-day decrease in two years.

According to the Securities Times app, the stock price of music streaming platform Spotify (SPOT.US) fell by more than 11% on Tuesday, marking its largest single-day drop since July 2023. The company had previously announced lower-than-expected second-quarter performance and third-quarter guidance. Data shows that the company's Q2 revenue was 4.19 billion euros, a 10% year-on-year increase, but lower than the market's expectation of 4.26 billion euros. The net loss was 86 million euros, compared to a net profit of 225 million euros in the same period last year, with a loss of 0.42 euros per share compared to the market's expected earnings per share of 1.90 euros.