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BUZZ-Spotify rises on upbeat Q1 profit estimates

Reuters
Feb 04, 2025
BUZZ-Spotify rises on upbeat Q1 profit estimates

** Shares of Swedish audio-streaming giant Spotify SPOT.N rise 9.3% to $600.10 in premarket trading

** Co expects Q1 operating income of 548 million euros ($566.19 million) above analysts' average ests of 450.6 million euros, as per data compiled by LSEG

** SPOT forecast Q1 monthly active users (MAUs) of 678 million, in line with estimates of 679.4 million

** Co benefits from steady user growth, price hikes and a cost-cutting drive

** Co also posted Q4 premium subscribers growth of 11% to 263 million, vs Visible Alpha estimates of 260 million

** Reports Q4 revenue growth of 16% to 4.24 billion euros, beating estimates of 4.19 billion euros

** In 2024, the stock rose 138%

(Reporting by Kritika Lamba in Bengaluru)

((Kritika.Lamba@thomsonreuters.com))

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