Following the post-Q1 share price drop and our limited estimate revisions, the valuation picture has turned increasingly attractive
Q2 guidance was mixed. While gross margin and user metrics (MAU) came in slightly above our expectations, EBIT guidance of 630 MEUR was some 10% below our estimate.
We expect the company to demonstrate continued operational momentum, characterized by steady user growth and robust profitability improvements.
Spotify’s Q4 print demonstrated strong operational execution, with profitability and user intake exceeding our estimate.
Spotify's Q4 results demonstrated strong operational execution, with profitability exceeding our estimates.
We expect investor focus to center on management’s commentary around churn, subscriber momentum, and the broader pricing strategy heading into 2026.
Spotify’s Q3 print came in above our top- and bottom-line estimates.
Spotify’s Q3 print came in above our top- and bottom-line estimates.
Spotify reports Q3 earnings on Tuesday, November 4, before the market opens. We expect Q3 revenue to be in line with guidance, driven by robust MAU/subs growth, but FX headwinds to weigh on ARPU.
Spotify announced today that founder and CEO Daniel Ek will transition to the role of Executive Chairman as of January 1, 2026, while Gustav Söderström, Co-President and Chief Product & Technology Officer, and Alex Norström, Co-President and Chief Business Officer, will assume the roles of co-CEOs.
Spotify’s Q2 print missed our top- and bottom-line estimates. Still, subscriber growth outperformed once again, driven by broad-based strength across all markets
Spotify’s Q2 print missed our top- and bottom-line estimates. Still, subscriber growth outperformed once again, driven by broad-based strength across all markets
Spotify reports Q2 earnings on Tuesday, July 29, before the market opens. We expect the business to continue to show resilience amid continued macroeconomic and geopolitical uncertainty
Spotify’s Q1 print was broadly in line with our expectations, though net subscriber additions surprised positively. However, guidance for Q2’25 came in somewhat below both our and Street’s estimates, particularly on MAUs, revenue, and operating income.
Spotify’s Q1 print was broadly in line with our expectations. However, the Q2’25 guidance came in a bit shy of both our and Street’s estimates, particularly on MAUs, revenue, and operating income.
Spotify will report Q1 earnings on Tuesday, April 29, before the market opens. The company enters earnings season with strong momentum and a macro environment that, while uncertain, likely has minimal impact on its core business.
Spotify reported an overall very strong, better-than-expected Q4 report. The report had many bright spots, including a notable beat in MAUs and subscribers.
Spotify reported an overall very strong, better-than-expected Q4 print. The report had many bright spots, most notably an impressive MAU and subscriber beat.
Spotify is set to release its Q4 earnings report on Tuesday, February 4, before the market opens. We believe key areas of focus in the report include gross margin, MAU/subscriber growth, monetization, and Q1’25 guidance.
Spotify’s impressive transformation into a profitable business with strong free cash flow generation, coupled with sustained high growth in its user base, underscores the platform’s strength and solid fundamentals.
