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Spotify (SPOT)
NYSE:SPOT
Earnings Data
Report Date
Apr 29, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
3.43Last Year’s EPS
1.26Same Quarter Last Year
Strong Buy
Based on 25 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized robust user growth, accelerating premium revenue, expanding margins, strong cash generation, and significant product and AI-driven engagement milestones. Management acknowledged near-term challenges in advertising growth, currency headwinds, AI-related content moderation risks, and potential quarterly margin variability, but presented clear plans and optimism for 2026 execution, monetization, and further AI-driven product differentiation.Company Guidance
Strong Top-Line Growth
Total revenue grew 13% year-over-year to $4,500,000,000 in Q4 2025, and full-year 2025 revenue also grew 13%.
Premium Revenue Acceleration
Premium revenue rose 14% year-over-year in Q4 (up from 13% last quarter), driven primarily by subscriber growth and pricing actions.
MAU and Subscriber Momentum
Monthly Active Users surpassed three-quarters of a billion; Q4 marked the highest quarter ever for MAU net additions (added ~38,000,000 users in Q4). Q1 2026 outlook: 759,000,000 MAU (+8,000,000 vs Q4) and 293,000,000 subscribers (implying ~3,000,000 net additions in Q1).
Improved Profitability and Margins
Q4 gross margin expanded to 33.1% (up ~80 basis points YoY). Operating income was €701,000,000, €81,000,000 above forecast. Full-year operating income grew in excess of 50% delivering a 13% full-year margin.
Record Cash Flow and Strong Balance Sheet
Q4 free cash flow was $834,000,000; company ended the quarter with $9,500,000,000 in cash and short-term investments. Full-year free cash flow improved by ~ $600,000,000 to a record DKK 2,900,000,000.
Active Capital Returns
Repurchased $433,000,000 of shares in Q4 and $510,000,000 in 2025; company plans to continue opportunistic buybacks and manage a SEK 1,500,000,000 convertible note due in March.
Product Innovation and Engagement
Launched 50+ new features in 2025 (e.g., Prompted Playlists, Page Match, About This Song). Wrapped engagement: >300,000,000 users engaged (+20%) and >630,000,000 social shares (+42%); day one of Wrapped was the highest single day of subscriber intake in company history.
AI Adoption Driving Usage
AI DJ has been used by ~90,000,000 subscribers, driving >4 billion hours of listening. Prompted Playlists and other AI features are boosting personalization and retention.
Content and Ecosystem Scale
Paid out >$11,000,000,000 to music rights holders in 2025 (highest annual payment from a single source), bringing lifetime payments to nearly $70,000,000,000. Podcast video consumption up >90% since SPP launch; >530,000 video podcast shows. Audiobook catalog tripled to >500,000 titles and expanded into 14 markets; audiobooks showing double-digit growth.
Marketplace & Mixing Momentum
Mixing tools milestone: 50,000,000 mixed playlists and >1,000,000 transitions per day. Marketplace contributed to gross income and margin expansion in 2025.
SPOT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SPOT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 10, 2026 | $414.84 | $476.02 | +14.75% |
Jul 29, 2025 | $700.98 | $620.01 | -11.55% |
Apr 29, 2025 | $597.73 | $576.94 | -3.48% |
Feb 04, 2025 | $549.08 | $621.77 | +13.24% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Spotify (SPOT) report earnings?
Spotify (SPOT) is schdueled to report earning on Apr 29, 2026, Before Open (Confirmed).
What is Spotify (SPOT) earnings time?
Spotify (SPOT) earnings time is at Apr 29, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SPOT EPS forecast?
SPOT EPS forecast for the fiscal quarter 2026 (Q1) is 3.43.
