Daniel Ek noted during an investors call that sales improved significantly by June.Spotify said its second-quarter operating loss amounted to €167 million ($196 million), compared with €3 million ($3.5 million) a year ago and €17 million ($20 million) at the end of March.
The company allowed that this metric was much higher than expected due to social costs like payroll taxes tied to salaries and benefits, plus a higher tax bill in its home government of Sweden related to stock-based compensation for employees there.The firm's net loss also ballooned to €356 million ($418 million), compared to €76 million ($89 million) in the year-ago period.