Spotify’s Loss Narrows but Misses Expectations

Company says it now has 170 million monthly active users; shares take a hit

Spotify Technology SA’s shares took a hit after hours as its first earnings report as a publicly traded company met the company’s own guidance but fell short of Wall Street expectations.

The report Wednesday was Spotify’s first since going public last month. Shares in the Stockholm-based company fell 7.7% after hours in New York to $156.99.

Spotify...