MW Spotify swings to a profit as subscribers top estimates
By Steve Gelsi
User growth of 12% powers revenue past estimates
Spotify Technology S.A. reported a fourth-quarter profit as the music streaming service's monthly active users climbed by double-digits over the year-ago period, sending shares of the company up sharply higher in premarket trading.
Spotify (SPOT) said it expects to add 3 million net new monthly active users (MAUs) to 678 million by the end of the first quarter. That's a little bit above the FactSet consensus estimate of 677 million.
Spotify ended the fourth quarter with about 675 million monthly active users, up 12% from the year-ago period and ahead of the previous quarter by 5%.
Spotify's monthly active user figure of 675 million also beat the Wall Street analyst consensus estimate of 664 million.
Spotify also swung to a profit of EUR1.76 a share from a loss of EUR0.36 in the year-ago quarter. The company was expected to earn EUR1.99 a share.
The company said its fourth-quarter revenue rose to EUR4.24 billion, ahead of the FactSet consensus estimate of EUR 4.15 billion.
Looking ahead, Spotify projected first-quarter revenue of EUR4.2 billion, slightly below the analyst estimate of just under EUR4.3 billion.
Spotify's stock was up 8.8% in premarket trading.
(This is a developing news story with updates to come.)
-Steve Gelsi
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
February 04, 2025 07:25 ET (12:25 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。