Spotify (SPOT) Reports Q1 EPS of EUR0.21; MAUs Up 19%

Spotify (NYSE: SPOT) reported Q1 EPS of EUR0.21, versus (EUR0.25) reported last year. Revenue for the quarter came in at EUR2.66 billion versus the consensus estimate of EUR2.15 billion.

• MAUs grew 19% Y/Y to 422 million or 419 million excluding a one-time benefit of 3 million MAUs
• Premium Subscribers grew 15% Y/Y to 182 million (inclusive of approximately 1.5 million disconnects from the wind-down of our Russian operations)
• Premium ARPU grew 6% Y/Y in Q1 and 3% Y/Y on a constant currency basis

Q2 GUIDANCE:

• Total MAUs: 428 million
• Total Premium Subscribers: 187 million
• Total Revenue: €2.80 billion
• Gross Margin: 25.2%
• Operating Profit/Loss: €(197) million

For earnings history and earnings-related data on Spotify (SPOT) click here.

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