Core Viewpoint - Spotify Technology S.A. reported strong performance in Q4 2025, with revenue of €4.5 billion, a 7% year-over-year increase, and net profit of €1.17 billion, up 200% from the previous year, exceeding market expectations [1] Financial Performance - Quarterly revenue reached €4.5 billion, a 7% increase year-over-year [1] - Net profit was €1.17 billion, representing a 200% growth compared to the same period last year [1] - Earnings per share stood at €4.43, significantly above market expectations [1] - Monthly active users increased by 38 million, reaching a record 751 million, while paid subscribers rose to 290 million [1] - Gross margin improved to 33.1%, and operating profit exceeded expectations due to user growth and cost control measures [1] - The company forecasts Q1 2026 revenue at €6.6 billion, higher than analyst expectations, positioning 2026 as a "year of elevated ambition" [1] Stock Performance - Following the earnings report on February 10, 2026, the stock price closed at $476.02, a single-day increase of 14.75% [2] - The stock experienced a pullback, closing at $445.79 on February 12, 2026, but rebounded to $458.34 on February 13, 2026, with a single-day increase of 2.82% [2] - Over the past week (February 9 to 13, 2026), the stock had a price fluctuation of 8.45% and a trading range of 22.39%, indicating mixed market sentiment [2] Recent Events - On February 10, 2026, Spotify released its performance outlook following a management transition, with co-CEOs Gustav Söderström and Alex Norström succeeding founder Daniel Ek, who became Executive Chairman [3] - The company aims to enhance competitiveness through AI playlists, audiobooks, and video podcast collaborations [3] - Spotify has raised prices in markets like the U.S. to $12.99, which has not yet fully reflected in the financial report, indicating potential future revenue elasticity [3] Institutional Perspectives - On February 12, 2026, a technical analysis report set Spotify's target price range between $550 and $850, rating it as "strong buy," citing confidence in its audio platform strategy and margin improvement, while noting risks from competition and copyright costs [4] - Keybanc maintained an "overweight" rating on February 9, 2026, with a target price of $720, affirming the company's fundamental resilience [4]