Spotify Technology S.A. (SPOT) reported second-quarter losses of 47 cents per share, which missed the analyst consensus estimate of a loss of 35 cents. This is an 81.71% increase over losses of $2.57 per share from the same period last year.

The company reported quarterly sales of $1.85 billion, which beat the analyst consensus estimate of $1.84 billion. This is a 24.24% increase over sales of $1.489 billion the same period last year.

Total monthly active users in the second quarter were up 29% year over year to 232 million.

Spotify shares were trading down 4% at $149 in Wednesday’s pre-market session. The stock has a 52-week high of $196.95 and a 52-week low of $103.29.