Spotify GAAP EPS of €2.48 misses by €0.33, revenue of €4.97B misses by €10M
- Spotify press release (SPOT): Q3 GAAP EPS of €2.48 misses by €0.33.
- Revenue of €4.97B (+16.4% Y/Y) misses by €10M.
Premium Revenue growth of 17% Y/Y (or 15% Y/Y constant currency*), driven by subscriber and ARPU gains; and
Ad-Supported Revenue growth of 10% Y/Y (or 9% Y/Y constant currency)
Currency movements aided Total Revenue Y/Y growth by ~190 bps vs. guidance of ~200 bp
- Premium Subscribers grew 9% Y/Y to 306 million, reflecting 6 million net adds and Y/Y and Q/Q growth across all regions
-
MAUs grew 11% Y/Y to 788 million, reflecting 11 million net adds and Y/Y and Q/Q growth across all regions
- Shares -2.8% PM.
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