Core Insights - Spotify Technology's shares increased over 11% in premarket trading following a strong fourth-quarter earnings report that surpassed analyst expectations, driven by user growth and improved profitability [1] Financial Performance - The company reported earnings per share of €4.43 for the fourth quarter, significantly higher than the consensus estimate of €2.85 [2] - Revenue for the quarter rose 7% year over year to €4.53 billion, slightly above expectations of €4.52 billion, representing a 13% growth on a constant-currency basis [2] - Gross margin improved to 33.1%, an increase of 83 basis points from the previous year, while operating income surged 47% year over year to €701 million, resulting in an operating margin of 15.5% [3] User Growth - Monthly active users reached 751 million, exceeding analyst projections of 745.24 million, marking an 11% increase from the previous year [3] - Premium subscribers grew by 10% year over year to 290 million, including 9 million net additions during the quarter [3] Future Outlook - For the first quarter of 2026, Spotify forecasts revenue of €4.5 billion, slightly below the consensus estimate of €4.57 billion [4] - The company anticipates monthly active users to rise to 759 million, surpassing analyst expectations of 752.45 million [4]