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Spotify (SPOT) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates

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Spotify (SPOT - Free Report) reported $4.99 billion in revenue for the quarter ended September 2025, representing a year-over-year increase of 13.9%. EPS of $3.83 for the same period compares to $1.59 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $4.92 billion, representing a surprise of +1.46%. The company delivered an EPS surprise of +104.81%, with the consensus EPS estimate being $1.87.

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): 713 million compared to the 710.3 million average estimate based on four analysts.
  • Ad-Supported MAUs: 446 million compared to the 442.33 million average estimate based on three analysts.
  • Premium Subscribers: 281 million compared to the 281.16 million average estimate based on three analysts.

View all Key Company Metrics for Spotify here>>>

Shares of Spotify have returned -5.3% over the past month versus the Zacks S&P 500 composite's +2.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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