Azerbaijan women's basketball team clinch historic win in European cup final
The Azerbaijani women’s 3x basketball team clinched the silver medal at the European Cup to make history at the just concluded tournament in Copenha...
Spotify projected third-quarter profit below market expectations on Tuesday, citing increased tax expenses linked to employee compensation, despite strong demand for its premium subscription services.
Shares of the Swedish streaming platform dropped nearly 9% in early trading, even after gaining around 57% so far this year. Investors have been keeping a close watch on the company’s profitability following recent price hikes, cost-cutting measures, and rising subscriber numbers that helped Spotify report its first annual profit in 2024.
The company expects operating income of €485 million ($561 million) for the third quarter, falling short of the €562 million consensus estimate from LSEG data.
Spotify’s forecast of 710 million monthly active users (MAUs) aligns with expectations, while its premium subscriber projection of 281 million exceeds analysts’ estimates of 279 million. In the second quarter, premium subscribers rose 12% to 276 million, and total MAUs increased by 18 million to reach 696 million—both surpassing forecasts.
Despite a 10% year-over-year revenue increase to €4.19 billion ($4.85 billion) in Q2, the figure missed expectations of €4.26 billion. Spotify noted that currency fluctuations negatively impacted revenue growth by roughly 440 basis points.
Looking ahead, the company anticipates third-quarter revenue of €4.2 billion, which also falls below the market projection of €4.48 billion.
Meanwhile, Spotify’s board approved a $1 billion boost to its share buyback programme, increasing the total authorisation to $2 billion, with $1.9 billion available for repurchases through April 2026.
Rising competition from Apple and Amazon has led Spotify to ramp up marketing efforts, contributing to an 8% rise in operating expenses during the April–June period.
AnewZ has learned that India has once again blocked Azerbaijan’s application for full membership in the Shanghai Cooperation Organisation, while Pakistan’s recent decision to consider diplomatic relations with Armenia has been coordinated with Baku as part of Azerbaijan’s peace agenda.
A powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
A Polish Air Force pilot was killed on Thursday when an F-16 fighter jet crashed during a training flight ahead of the 2025 Radom International Air Show.
Russian energy giant Gazprom has signed agreements with Kazakhstan and Mongolia to boost gas cooperation, including increased deliveries to Kazakhstan in 2025–2026 and a study on gasification in Mongolia’s capital, Ulaanbaatar.
A recent Federal Reserve Bank of New York (New York Fed) study reveals that while the use of artificial intelligence (AI) among businesses has grown significantly over the past year, very few companies have carried out AI-related layoffs.
Rising concerns over the U.S. economy and ongoing tariff disputes have put global government bonds under selling pressure, experts say. Donald Trump’s push for interest-rate cuts, combined with a major spending bill, has shaken investor confidence, sending bond prices down while yields rise.
Access to Google services was restored Thursday after a region-wide outage cut off millions of users across dozens of countries, with disruptions reported in platforms including YouTube, Gmail and Maps.
The pound and the yen came under strain on Wednesday, weighed down by renewed investor concerns over global fiscal health and political uncertainty in Japan.
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