Spotify (SPOT) Q1 2026 (EUR): Revenue 4.5bln (exp. 4.52bln), EPS 3.45 (exp. 3.17); sees Q2 MAU 778mln (exp. 773.9mln)
Importance
Level 1
Further Q2'26 guidance:
- Total Revenue 4.8bln (exp. 4.77bln). Assumes ~80 bps headwind to growth Y/Y (vs. ~600 bps in Q1) due to foreign exchange rate movements
- Total Premium Subscribers 299mln (exp. 300mln)
- Op. Income 630mln.
Other Metrics:
- Total Monthly Active Users 761mln (exp. 760mln).
- Premium Subscribers grew 9% Y/Y to 293mln, reflecting 3 million quarterly net adds.