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Spotify Gears Up to Report Q1 Earnings: What's in the Cards?

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Key Takeaways

  • SPOT is slated to report Q1 2026 results on April 28, with revenues expected to rise 21.7% year over year.
  • SPOT's growth is driven by video podcasts, audiobook expansion and new platform features.
  • SPOT is expected to see MAUs rise 12.1% and EPS increase 221.2%, though its Earnings ESP is negative.

Spotify Technology S.A. (SPOT - Free Report) is set to report its first-quarter 2026 results on April 28, before the opening bell.

The company’s earnings surprise history has not been impressive. It missed the Zacks Consensus Estimate in two of the last four reported quarters and beat twice, delivering a negative earnings surprise of 1.3% on average.

Spotify Technology Price, Consensus and EPS Surprise

Spotify Technology Price, Consensus and EPS Surprise

Spotify Technology price-consensus-eps-surprise-chart | Spotify Technology Quote

Q1 Expectations for SPOT

The Zacks Consensus Estimate for revenues in the to-be-reported quarter is pegged at $5.37 billion, indicating a 21.7% year-over-year increase.

Recent growth in video podcast consumption, expansion of audiobooks in the Premium segment to new markets and more than 50 newly launched features and innovations in 2025, such as Prompted Playlists, Page Match and About This Song, are expected to have driven top-line growth in the to-be-reported quarter.

The consensus estimate for Total Monthly Active Users (MAUs) is pegged at 759.8 million, indicating a 12.1% increase from the year-ago quarter. Premium subscribers and ad-supported MAUs are anticipated to rise 9.4% and 13.8% year over year to 293.2 million and 481.4 million, respectively.

The Zacks Consensus Estimate for earnings is pegged at $3.63 per share, indicating year-over-year growth of 221.2%.

The company’s growing global popularity, driven by rising demand for sophisticated, AI-driven, user-friendly and multi-device supported Software as a Service platforms among listeners and viewers across markets, regions and age groups, is expected to have boosted customer gains and the bottom line.

What Our Model Says

Our proven model does not conclusively predict an earnings beat for SPOT this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks before they're reported with our Earnings ESP Filter.

SPOT has an Earnings ESP of -20.94% and currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to Consider

Here are a few stocks from the broader Computer and Technology sector, which, according to our model, have the right combination of elements to beat on earnings this season.

Celestica Inc. (CLS - Free Report) has an Earnings ESP of +1.32% and a Zacks Rank of 2. The company is scheduled to report its first-quarter 2026 results on April 27.

The Zacks Consensus Estimate for CLS’s first-quarter 2026 revenues is pegged at $4 billion, indicating year-over-year growth of 51.6%. For earnings, the consensus mark is pegged at $2.08 per share, implying a 73.3% increase from the year-ago quarter’s actual. CLS beat the consensus estimate in each of the trailing four quarters, with the average earnings surprise being 9.1%.

F5, Inc. (FFIV - Free Report) has an Earnings ESP of +3.50% and a Zacks Rank of 2. The company is scheduled to announce its first-quarter 2026 results on April 28.

The Zacks Consensus Estimate for FFIV’s second-quarter fiscal 2026 revenues is pegged at $784.3 million, indicating 7.3% year-over-year growth. The consensus estimate for earnings is pegged at $3.47 per share, implying a year-over-year increase of 1.5%. FFIV beat the consensus estimate in each of the trailing four quarters, delivering an average earnings surprise of 15.7%.

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