SPOT Stock Recent News

Spotify continues to attract new users at a strong pace, leading to good top-line growth. The company's profit margins are improving, leading to record profits.

Spotify Technology SA (NYSE:SPOT) soared 15% on Tuesday after it posted record profits during its first quarter, with sales also beating Wall Street expectations. Earnings per share during the three months came in at a record US$0.97 compared to the US$0.65 analysts had been expecting.

Although the revenue and EPS for Spotify (SPOT) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Music and podcast streaming giant Spotify reported Tuesday an increase in the number of paying subscribers and a rare but lower-than-expected operating profit for the first quarter.

Spotify beat expectations on the top and bottom lines when it reported quarterly earnings Tuesday, after a year of activist investor scrutiny and cost-cutting.

Spotify (SPOT) came out with quarterly earnings of $1.05 per share, beating the Zacks Consensus Estimate of $0.63 per share. This compares to loss of $1.24 per share a year ago.

Spotify shares have climbed 45% this year so far as it focuses on profitability.

Spotify on Tuesday reported quarterly monthly active users (MAU) of 615 million, missing its own estimates, as the Swedish music streaming company spent less on marketing activities to draw in more listeners.

Will Spotify's growth tear continue?

Shake it off, T-Swift fans and Spotify users. Earnings are ahead for $SPOT and the Chart Master has the technical tunes to keep you streaming right along.