Key TakeawaysSpotify Technology reported a first-quarter profit and better-than-expected sales as it added users.The streaming audio provider increased the number of total Monthly Active Users (MAUs), ad-supported MAUs, and premium subscribers.Spotify expects higher MAUs and premium subscribers in the current quarter. Spotify Technology (SPOT) shares skyrocketed in intraday trading Tuesday after the streaming audio provider posted a quarterly profit and strong sales on a big jump in the number of users. The ...

The audio-streaming platform is setting records as subscribers pay for premium services.Shares of audio-streaming platform Spotify Technologies (SPOT 15.04%) jumped on Tuesday after the Swedish company reported financial results for the first quarter of 2024. As of 9:40 a.m. ET, Spotify stock was up 13% and hitting new 52-week highs.Spotify's growth leads to a profitSpotify ended Q1 with 615 million monthly active users, which was slightly below analysts' expectations and management's guidance. That said, t ...

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For the quarter ended March 2024, Spotify (SPOT) reported revenue of $3.95 billion, up 21% over the same period last year. EPS came in at $1.05, compared to -$1.24 in the year-ago quarter.The reported revenue represents a surprise of +2.05% over the Zacks Consensus Estimate of $3.87 billion. With the consensus EPS estimate being $0.63, the EPS surprise was +66.67%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next ...

Thanks, Ben. This is a great question. I'll start just by re-emphasizing what we've been saying a few quarters in a row now. We feel really confident about the gross margin trajectory and the sequential momentum we have. So consider this a real trend and not just a function of one-offs. As I said in my prepared remarks, we have a lot of moving parts, as is the case every quarter. Non-music, music, marketplace, to name a few of the major areas. We also had movements in other costs of revenue such as continue ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Despite its success in the online music market, the company has never posted a full-year net profit and only occasionally quarterly profits. Music and podcast streaming giant Spotify reported Tuesday an increase in the number of paying subscribers and a rare but lower-than-expected operating profit for the first quarter. The c ...

Daniel Ek, CEO of Swedish music streaming service Spotify, gestures as he makes a speech at a press conference in Tokyo on September 29, 2016.Spotify reported first quarter earnings on Tuesday, notching record quarterly profit and beating estimates on the top and bottom lines, after a year of deep cost-cutting and streamlining.Here's how the company did, compared with analyst expectations:Earnings per share: 97 cents vs. 65 cents expected by LSEG analystsRevenue: $3.64 billion vs. $3.61 billion expected by ...

Spotify (SPOT) came out with quarterly earnings of $1.05 per share, beating the Zacks Consensus Estimate of $0.63 per share. This compares to loss of $1.24 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 66.67%. A quarter ago, it was expected that this music-streaming service operator would post a loss of $0.08 per share when it actually produced a loss of $0.39, delivering a surprise of -387.50%.Over the last four quarters, t ...

Will Spotify's growth tear continue?Spotify (SPOT -0.53%) reports earnings before the market opens on Tuesday and results could have a huge impact on shares. After strong momentum in 2023, Travis Hoium covers what to look for in 2024 in the video below.*Stock prices used were end-of-day prices of April 22, 2024. The video was published on April 22, 2024. ...

ToplineTaylor Swift’s new album, “The Tortured Poets Department,” became Spotify's most-streamed album in a single day Friday, breaking the same record previously held by Swift’s 2022 album, “Midnights.”The album was released Friday. (Photo by Ashok Kumar/TAS24/Getty Images for TAS Rights Management)Getty Images for TAS Rights Management Key Facts“The Tortured Poets Department” was released Friday and became Spotify’s most-streamed album in a single day by exceeding 200 million streams, Variety reported. “ ...