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Spotify (SPOT) Reports Q1 Earnings: What Key Metrics Have to Say

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Spotify (SPOT - Free Report) reported $5.3 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 20.4%. EPS of $4.04 for the same period compares to $1.13 a year ago.

The reported revenue represents a surprise of -1.09% over the Zacks Consensus Estimate of $5.36 billion. With the consensus EPS estimate being $3.72, the EPS surprise was +8.64%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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): 761 million compared to the 759.76 million average estimate based on four analysts.
  • Premium Subscribers: 293 million versus the four-analyst average estimate of 293.25 million.
  • Ad-Supported MAUs: 483 million versus the three-analyst average estimate of 481.42 million.

View all Key Company Metrics for Spotify here>>>

Shares of Spotify have returned +4.4% over the past month versus the Zacks S&P 500 composite's +12.8% 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.

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