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Why Spotify Technology Shares Crashed on Wednesday

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Why Spotify Technology Shares Crashed on Wednesday
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Shares of Spotify Technology (NYSE: SPOT) fell as much as 10.1% on Wednesday, following the company's second-quarter earnings report. Spotify's second-quarter sales rose 23% year over year, landing at $2.75 billion. Premium subscriber growth clocked in at 20% while ad-supported MAUs rose by 24%.

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