Spotify outlook weakens as pandemic uncertainty persists

FILE PHOTO: A trader is reflected in a computer screen displaying the Spotify brand before the company begins selling as a direct listing on the floor of the New York Stock Exchange in New York, U.S., April 3, 2018. REUTERS/Lucas Jackson/File photo

STOCKHOLM (Reuters) - Spotify on Wednesday forecast that revenue and paid subscribers would miss Wall Street estimates this quarter due to uncertainty over how long the coronavirus crisis would last and with it a surge in demand for its music streaming.

Shares of the company were down 7% in premarket trading.