Core Insights - Spotify Technology S.A. has guided for fourth-quarter operating income significantly above analyst estimates, driven by healthy user activity and strong performance in its premium tier [1] - The company has seen a share price increase of over 40% year to date, attributed to profitability improvements through price increases and cost controls [1] Financial Performance - In Q3, Spotify reported a payroll tax charge of €16 million, which was €41 million lower than forecasted and down from €53 million year-over-year [2] - Operating expenses decreased by 2% due to the reduced tax charge and favorable currency effects; however, excluding these factors, operating expenses rose by 11% due to increased marketing and personnel costs [2] - Premium revenue increased by 9% to €3.83 billion, supported by double-digit subscriber growth [2] Future Projections - For Q4, Spotify anticipates continued growth and improving margins through 2025 as it reinvests for long-term potential [3] - Monthly active users are projected to reach 745 million, surpassing expectations, with notable premium subscriber growth in Latin America and North America [3] - The expected operating income for Q4 is €620 million, compared to a consensus of €605.3 million, with recent high-profile releases contributing to engagement trends [3]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of November, 2025 Commission File Number: 001-38438 Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐ Spotify Technology S.A. Interim condensed consolidated financial statements For the three and nine months ended S ...

Core Insights - The Q3 earnings season has been volatile, particularly in consumer-driven businesses, yet Spotify has maintained a strong position despite warnings about declining consumer budgets [1] Company Analysis - Spotify is identified as the leading music streaming service, demonstrating resilience in a challenging economic environment [1] - The company has managed to keep a firm grip on its market share, indicating effective strategies in navigating consumer spending challenges [1] Industry Context - The broader consumer-driven sector is experiencing multiple warnings from various companies regarding reduced consumer budgets, highlighting a potential trend affecting the industry [1]

Core Insights - Spotify Technology SA's third-quarter 2025 performance surpassed expectations, driven by strong premium subscriptions, user growth, and improved ad-supported profitability [1][2] Financial Performance - Total revenue increased by 7% year-over-year to 4.27 billion euros ($4.90 billion), exceeding Goldman Sachs' forecast of 4.20 billion euros and the Street's estimate of 4.23 billion euros [4] - Premium revenue reached 3.83 billion euros, outperforming both Goldman Sachs' and consensus estimates, while ad-supported revenue was 446 million euros, slightly below forecasts [4] - Gross margins expanded to 31.6%, surpassing Goldman Sachs' and consensus estimates of 31.1%, with premium margins at 33.2% and ad-supported margins improving to 18.4%, up 525 basis points year-over-year [5] Subscriber Growth - The platform added five million premium subscribers, totaling 281 million, and gained 17 million monthly active users (MAUs), reaching 713 million, which was modestly ahead of projections [4] Operating Income and Earnings - Operating income was 582 million euros, significantly above Goldman Sachs' estimate of 486 million euros and the Street's estimate of 501 million euros, resulting in an operating margin of 13.6% [6] - Earnings per share were reported at 3.28 euros, far exceeding forecasts of 2.02 euros (Goldman) and 1.96 euros (consensus) [6] Future Outlook - Spotify's fourth-quarter 2025 guidance suggests continued margin strength, with expected total revenue of 4.5 billion euros, slightly below analyst estimates [7] - The company anticipates premium subscribers to reach 289 million and MAUs to rise to 745 million, with forecasted gross margins of 32.9% and operating income of 620 million euros, both ahead of prior estimates [7]

Group 1 - Netflix is in discussions to license video podcasts from iHeartMedia, aiming for exclusivity which would prevent these podcasts from being uploaded to YouTube [1] - iHeartMedia's podcast portfolio includes popular shows such as "The Breakfast Club," "Las Culturistas," "Jay Shetty Podcast," and "Stuff You Should Know" [1] - This news follows a recent agreement between Netflix and Spotify to provide a selection of curated podcasts, which will also be removed from YouTube but remain available on Spotify [2] Group 2 - The video podcast deals are part of Netflix's strategy to enhance its competitive position against YouTube, which has over 1 billion monthly active podcast viewers [3]

Market Overview - U.S. equity markets are experiencing a midday retreat on November 4, 2025, with major indexes pulling back as investors digest corporate earnings and economic data, alongside cautious sentiment in the technology sector [1][2] - The S&P 500 has declined approximately 1.3% by midday, the Dow Jones Industrial Average is down around 0.9%, and the Nasdaq Composite has seen a drop of 1.5% [2] Economic Data and Events - Investors are monitoring key economic data releases, including U.S. JOLTS Job Openings, International Trade in Goods and Services, and Factory Orders reports [3] - Upcoming reports include the ISM Services Business Activity index and the ADP Employment Change report, which are crucial due to the ongoing U.S. government shutdown [4] Technology Sector Performance - Palantir Technologies shares fell between 8% and 10% despite exceeding earnings forecasts and raising revenue guidance, attributed to profit-taking and concerns over high valuation [6] - Other tech stocks like Nvidia and Microsoft also experienced declines, with Nvidia down 1.7% to 2.8% and Microsoft down 0.7% [6] Automotive and Consumer Discretionary - Tesla shares slid 2.7% after Norway's sovereign wealth fund announced intentions to vote against CEO Elon Musk's compensation package [7] - Norwegian Cruise Line saw an 11% drop following a mixed earnings report and forecast [7] Earnings Reactions - Zoetis shares plunged 13% after revising its sales forecast downwards, while IDEXX Laboratories surged 14.8% after reporting strong earnings [8] - Ferrari announced a 7.4% year-over-year increase in net revenues, with diluted earnings per share reaching Euro 2.14 [9] Upcoming Earnings - Key companies scheduled to report earnings include Advanced Micro Devices, Shopify Inc., Arista Networks, Uber Technologies, Amgen, Eaton Corporation, Pfizer, and Spotify Technology [10]

Core Insights - Spotify is evolving from a music app to a comprehensive audio platform, integrating music, podcasts, audiobooks, AI, and creator tools to enhance user experience and profitability [1][5][6] User Growth and Engagement - Spotify reported a 36% increase in audiobook listeners, with listening hours rising even more, indicating strong user engagement [11] - The platform reached 713 million monthly active users (MAU), an 11% year-over-year growth, and 281 million subscribers, up 12% year-over-year [3][5] Financial Performance - The company's revenue for Q3 2025 increased by 7% year-over-year to 4.3 billion euros (approximately $4.9 billion) [5] - Ad-supported MAUs grew to 446 million, reflecting an 11% increase, with gains observed in both emerging and mature markets [5] Strategic Initiatives - Spotify aims to redefine the audio platform by enhancing user experience through continuous product releases, algorithmic personalization, and creator monetization [6][7] - The integration of ChatGPT for personalized recommendations marks a significant step into the AI space, aiming to enhance user discovery [8][9] Audiobook Expansion - The company has expanded its audiobook catalog to over 500,000 titles and introduced audiobooks in 14 global markets, with over half of eligible premium users having engaged with audiobooks [11] - Executives highlighted the potential of audiobooks as a strategy to manage content costs, which are heavily influenced by music royalties [10]

Spotify says that users' time spent with video content on Spotify has also more than doubled year-over-year, largely driven by video podcasts. https://t.co/PAvSbzVvPq ...

Core Insights - Spotify's video podcasts are experiencing significant growth, with nearly 500,000 shows and over 390 million users streaming video podcasts, marking a 54% year-over-year increase [1][2] - The time users spend on video content has more than doubled year-over-year, driven largely by video podcasts, with an 80% increase in consumption since the launch of the Spotify Partner Program in January [3] User Engagement and Content Expansion - Spotify has expanded its video podcast catalog significantly, from 250,000 shows in June 2024 to nearly 500,000, reflecting increased investment in this format [2] - The platform allows user engagement through comments, Q&As, and polls, enhancing the social networking aspect of the app [2] Strategic Partnerships - A partnership with Netflix will begin distributing Spotify's video podcasts to a wider audience starting in 2026, with the aim of positioning Spotify as a distribution hub for creators [4] - Co-CEO Alex Norström emphasized the importance of helping creators reach audiences across multiple platforms, aligning with Spotify's creator-first philosophy [5] Advertising and Revenue Opportunities - Spotify has provided advertisers with programmatic access to its audio and video inventory, although it anticipates 2025 to be a transition year for its advertising business [7] - Co-CEO Gustav Söderström indicated that the dual presence of creators on both Spotify and Netflix could create additional revenue opportunities [5] Financial Performance - Spotify reported an 11% year-over-year increase in monthly active users, reaching 713 million, and revenue of €4.27 billion (~$4.9 billion), exceeding Wall Street expectations [8] - The company achieved a net profit of €899 million (~$1 billion) during the quarter, although stock prices fell due to mixed guidance for the fourth quarter [8]

Spotify on Tuesday reported strong third-quarter results that topped Wall Street expectations and saw total revenue climb 12% year over year, but issued weak guidance for revenue and subscribers for the current quarter.Shares of Spotify fell 2% on Tuesday.Here's what Spotify reported compared with LSEG estimates:Earnings per share: 3.28 euros vs. 1.97 euros expected.Revenue: 4.27 billion euros vs. 4.23 billion euros expected.The streaming platform increased premium subscribers by 12% to 281 million, coming ...