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STOCKHOLM, Sweden (AFP) — Streaming giant Spotify said Tuesday that it had 777 million monthly active users at the end of June, 16 million more than in the previous quarter but a million fewer than forecast.
The Swedish company also warned that it expected its growth to slow in the third quarter, saying it anticipated around 11 million new net subscribers.
That cooled investor sentiment, with Spotify shares down 2.6 per cent in opening trading on the New York Stock Exchange.
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