Spotify Q3 Earnings Report: GAAP EPS and Revenue Miss Estimates
Spotify reported third-quarter financial results that fell short of analyst expectations on both the top and bottom lines. The company posted a GAAP earnings per share (EPS) of €2.48, missing estimates by €0.33, while total revenue reached €4.97 billion, slightly underperforming projections by €10 million. Despite the misses, Spotify saw year-over-year revenue growth of 16.4%. Premium segment revenue grew by 17% (15% on a constant currency basis), fueled by increases in both subscriber numbers and Average Revenue Per User (ARPU). The company also noted positive momentum within its ad-supported revenue stream.
Tickers: $SPOT
Topics: ad-supported revenue earnings miss premium revenue revenue growth