Shares of Spotify Technology plunged 7.3% in Wednesday's pre-market trading as the music streaming company posted a 4Q loss of €0.66 per share versus a loss of €1.14 year-on-year. Analysts were expecting a loss of €0.5 per share. Revenues rose by 17% year-on-year to €2.2 billion, beating the consensus forecast of €2.1 billion. Spotify’s (SPOT) total monthly active users (MAUs) went up by 27% year-on-year to 345 million in 4Q which was at the top end of the company’s guidance range. For FY20, it had net additions of 74 million users versus net additions of 64 million in the year earlier.
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