News Summary

• The music streaming giant added a total of 7 million in its second quarter, representing 9% growth year over year.
• Overall, the company posted a profit of €545 million, or €2.61 per share.
• Despite a 3% increase in operating expenses driven by “temporary investments in marketing and cloud/AI spend,” operating profit jumped 61% to €655 million.
• But executives warned that it would incur approximately $200 million in additional operating expenses for the full year.