Spotify reported second-quarter revenue above analysts' estimates on Wednesday helped by a 14% jump in paying subscribers, and forecast an upbeat current quarter although it will stop production of its dashboard accessory, Car Thing.
"We did see a little bit of softness in the last two weeks of the quarter," Spotify's Chief Financial Officer Paul Vogel said in an interview.
Premium subscribers, which account for most of the company's revenue, rose to 188 million, topping analyst expectations of 187 million. Car Thing, a dashboard-mounted voice-controlled streaming device, launched in April last year before a wider rollout. Priced at $89.99, the device is currently discounted to $49.99.
"We saw a lot of great demand in the car with existing integrations and car manufacturers are waking up and offering better and better in-car solutions," he said.
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