For the quarter ended March 2024, Spotify (SPOT Quick QuoteSPOT - Free Report) reported revenue of $3.95 billion, up 21% over the same period last year. EPS came in at $1.05, compared to -$1.24 in the year-ago quarter.

The reported revenue represents a surprise of +2.05% over the Zacks Consensus Estimate of $3.87 billion. With the consensus EPS estimate being $0.63, the EPS surprise was +66.67%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Spotify performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Total Monthly Active Users (MAUs): 615 million versus the four-analyst average estimate of 618.26 million.
• Ad-Supported MAUs: 388 million compared to the 392.78 million average estimate based on four analysts.
• Premium Subscribers: 239 million compared to the 239.26 million average estimate based on four analysts.

View all Key Company Metrics for Spotify here>>>

Shares of Spotify have returned +3.9% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.