Spotify Reports Q1 Results

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9 hours ago

Summary

Spotify's Q1 results showed a significant growth in premium subscribers, revenue, and operating income. The company's monthly active users reached 678 million, with ad-supported MAUs at 423 million. Spotify also reported a profit milestone, with €477 million in operating income for the full year.

Key Points

Spotify's premium subscriber base grew by 5 million to 268 million, marking the second-highest total ever and the highest net addition of paid subs for a first quarter since 2020.
The company reported a record-high quarterly operating income of €509 million (around $528 million), although this was below its guidance of €548 million ($625 million).
Spotify's total revenue jumped 15% year-over-year to €4.2 billion ($4.8 billion).

Why It Matters

Spotify's Q1 results demonstrate the company's continued growth and success in the music-streaming industry, solidifying its position as a top player.

Author

Lauren Forristal

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