Apple Sees Sales Slump Continuing, Shares Drop More Than 2%
Aug 3 (Reuters) - Apple forecast a sales slump would continue into the current quarter, sending shares down despite beating Wall Street sales and profit targets in the fiscal third quarter.Apple share
Podcast Cuts and Higher Music Royalties Deepen Spotify Losses -- Update
Generation Z and overseas listeners helped Spotify notch its strongest ever quarter for new users, while the streaming giant reported steeper losses from podcasting cuts and higher music royalty costs.The audio company is in the throes of an effort to improve profitability, which includes right-sizing its investments in podcasting and raising prices.On Monday, Spotify said it is raising prices for its premium subscription to $10.99 a month in the U.S. from its longstanding price of $9.99, confirming an earlier report by The Wall Street Journal. The company had told investors it would raise prices this year as part of a continuing push to consistently turn a profit.The audio giant said it would soon raise prices in dozens of other markets around the world, including the U.K., France, Mexico, Peru, Singapore and Hong Kong.Asked about the company's ability to raise prices longer term, Chief Executive Daniel Ek said Spotify continues to improve its product, increase podcasting and expand i