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Shares of Spotify fell 6% in premarket trading Tuesday after the company released second-quarter results that missed analysts’ estimates for revenue and offered weaker-than-expected guidance.

Here’s how the company did:

  • Loss per share: Loss of 1.55 euros, not comparable to estimates
  • Revenue: 3.18 billion euros vs. 3.21 billion euros expected by analysts, according to Refinitiv

Revenue was up 11% year over year from 2.86 billion euros ($3.16 billion). Spotify posted a loss per share of 85 euro cents in its Q2 2022 report. It said it expects to report total revenue of 3.3 billion euros for its third quarter, down from the 3.4 billion euros expected by analysts according to StreetAccount.

The music streaming company reported 551 million monthly active users for the quarter, up 27% year over year. There were 36 million net additions to monthly active users during the quarter. Spotify also reported 220 million paid subscribers, up 17% from a year ago.

In its first-quarter report, the company said it expected to add approximately 15 million new monthly active users in Q2, bringing its total to 530 million. It had also expected revenue of 3.2 billion euros and to report 217 million paid subscribers in the quarter.

Spotify posted a net loss of 302 million euros, widening from the 125 million euro loss it posted in the year-ago quarter.

Spotify is continuing to invest in advertising, and its ad-supported revenue grew 12% year over year. The company said podcast advertising revenue growth reaccelerated to more than 30% year over year.

On Monday, Spotify announced plans to increase the price of its Premium subscription offerings as much as $2, which translates to a 20% rise for some plans. The company said that the market landscape has “continued to evolve” since Spotify launched, and that the changes will help the company “continue to deliver value to fans and artists,” according to a blog post.

In the U.S., Spotify’s Premium Individual offering now costs $10.99, up from $9.99, and the price of its Premium Duo plan changed to $14.99, up from $12.99. The company’s Premium Family plan is now priced at $16.99, up from $15.99, and the Student offering costs $5.99, up from $4.99.

Spotify said in its report Tuesday that the price increases are expected to have “minimal impact” on the company’s total revenue in the third quarter.

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Cramer says Boeing is a buy here — plus, Wells Fargo and bank stocks keep rolling

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Google’s boomerang year: 20% of AI software engineers hired in 2025 were ex-employees

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Google's boomerang year: 20% of AI software engineers hired in 2025 were ex-employees

Sundar Pichai, chief executive officer of Alphabet Inc., during the Bloomberg Tech conference in San Francisco, California, US, on Wednesday, June 4, 2025.

David Paul Morris | Bloomberg | Getty Images

With the AI talent wars heating up between companies like OpenAI, Meta and Anthropic, one way Google has been competing is by aggressively rehiring former employees.

Some 20% of software engineers working on artificial intelligence that Google hired in 2025 were so-called boomerang employees, an increase from prior years, CNBC has learned. A Google spokesperson confirmed the statistic remains accurate as of December, and said the company saw a jump in the number of AI researchers coming from major competitors compared to 2024.

“We’re energized by our momentum, compute, and talent — engineers want to work here to keep building groundbreaking products,” the spokesperson said in a statement.

John Casey, Google’s head of compensation, recently told employees in a meeting about the rehiring. Casey said AI-focused software engineers are drawn to Google’s deep pockets and hefty computational infrastructure that’s needed to perform advanced AI work, according to audio reviewed by CNBC.

Google has a large pool of ex-employees to mine, particularly after its largest ever round of layoffs in early 2023, when parent company Alphabet cut 12,000 jobs, reducing headcount by 6%. That followed a market downturn driven by soaring inflation and rising interest rates. Google has since continued with rolling layoffs and buyouts.

Across the industry, employee boomerangs are up, according to data published earlier this year by ADP Research, with the sector it classifies as information showing the starkest numbers.

Google unveils 'Gemini 3 Flash' AI model focused on speed and cost

Google has been racing to catch up in generative AI after a slow start that followed OpenAI’s release of ChatGPT in late 2022. After fumbling a number of product rollouts, the company has bounced back this year, thanks to hefty investments in AI infrastructure and the success of its Gemini app. Google announced its latest model, Gemini 3, last month.

Alphabet’s stock price is up more than 60% this year, outperforming all of its megacap peers.

As a historical hotbed of engineering and innovation, Google has long been a place where competitors have turned to try and poach talent. That’s still the case.

Earlier this year, Microsoft hired around two dozen employees from Google’s DeepMind AI research lab, CNBC reported in July. OpenAI, meanwhile, has opened its wallets wide, along with Meta. OpenAI CEO Sam Altman told employees in June that Meta had been offering $100 million signing bonuses, and that he was aggressively trying to retain staffers.

Late last year, Google brought back a major figure in AI: Noam Shazeer.

Shazeer and Daniel De Freitas left Google in 2021 to start AI platform Character.AI, reportedly departing after Google rebuffed their attempts to try and get the company to push its internal chatbot forward.

Along with other members of the Character.AI research team, Shazeer and De Freitas rejoined DeepMind in August 2024 under a licensing deal for the startup’s technology.

Over the last year, Google has taken more risks, shipping products more quickly, even if they aren’t viewed as completely ready. Google has also made a companywide effort to remove bureaucracy, enacting widespread employee buyouts and eliminating more than one-third of its managers overseeing small teams, CNBC reported in August.

Google co-founder Sergey Brin, who came out of retirement in 2023, has at times personally reached out to prospective candidates to recruit them, according to people familiar with the matter who asked not to be named because they weren’t authorized to speak to the media. Meta CEO Mark Zuckerberg has also reportedly reached out to researchers on behalf of his company.

WATCH: OpenAI’s Sam Altman says Google is still a huge threat

OpenAI's Sam Altman: Google is still a huge threat

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Palo Alto Networks announces multibillion-dollar deal with Google Cloud

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Palo Alto Networks announces multibillion-dollar deal with Google Cloud

Dado Ruvic | Reuters

Palo Alto Networks will migrate key internal workloads to Google Cloud as part of a new multibillion-dollar agreement, the companies announced on Friday.

The companies said the deal is an expansion of their existing strategic partnership and will deepen their engineering collaboration.

Palo Alto Networks is now using Google’s Gemini artificial intelligence models to power its copilots, and it is also using Google Cloud’s Vertex AI platform, according to a release.

“Every board is asking how to harness AI’s power without exposing the business to new threats,” BJ Jenkins, president of Palo Alto Networks, said in a statement. “This partnership answers that question.”

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Palo Alto Networks, which offers a range of cybersecurity products, already has more than 75 joint integrations with Google Cloud and has completed $2 billion in sales through the Google Cloud Marketplace.

As part of the new phase of the partnership, Palo Alto Networks customers will be able to protect live AI workloads and data on Google Cloud, maintain security policies, accelerate Google Cloud adoption and simplify and unify their security solutions, the companies said.

Shares of Palo Alto Networks were up 1% on Friday. Google shares were mostly flat.

“This latest expansion of our partnership will ensure that our joint customers have access to the right solutions to secure their most critical AI infrastructure and develop new AI agents with security built in from the start,” Google Cloud President Matt Renner said in a statement.

WATCH: Google unveils ‘Gemini 3 Flash’ AI model focused on speed and cost

Google unveils 'Gemini 3 Flash' AI model focused on speed and cost

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