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Spotify Technology S A Announces Financial Results for First Quarter 2021

Press release content from Business Wire. The AP news staff was not involved in its creation. Spotify Technology S.A. Announces Financial Results for First Quarter 2021 April 28, 2021 GMT NEW YORK (BUSINESS WIRE) Apr 28, 2021 Spotify Technology S.A. (NYSE:SPOT) today reported financial results for the first fiscal quarter of 2021 ending March 31, 2021. (Graphic: Business Wire) Dear Shareholders, We are pleased with our performance in Q1. The business delivered subscriber growth and Gross Margin at the top end of our guidance range, a continued improvement in ARPU, and operating income better than plan. We saw greater MAU variability this quarter, but results were within our range of expectations given the outperformance in Q4 and the continued impact from COVID-19. Revenue grew by 16% (22% excluding the impact of FX) and was at the upper end of our guidance range. Other highlights from the quarter include a successful launch in 86 new markets, a $1.5 billion Exchangeable Note

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Spotify Monthly Active Users Hit 356 Million, Falling Short Of Target; Revenue Up 16%; Podcast Listening Hits High

Spotify Monthly Active Users Hit 356 Million, Short Of Target; Revenue Up 16%; Podcast Listening Hits High Deadline 5 hrs ago UPDATED with CEO comments:Spotify saw revenue grow 16% last quarter to €2.147 billion ($2.59 billion) fueled by a 46% jump in ad sales as podcast listening hit a high and monthly active users grew 24% to 356 million, including both free and paid. Premium subscribers increased 21%, as the company added nearly 4 million net new members to end the first three months of the year at 158 million at the top end of forecasts. More from Deadline Total MAUs however fell short of forecasts. It said “meaningful contributions” from markets like the U.S., Mexico, Russia, and India was partly offset by lower than expected growth in Latin America and Europe. And it cited pandemic-related subscriber “pull forward” a term Netflix has also used to explain that hefty subscribers gains last year with the world in full lockdown mode aren’t necessarily susta

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Spotify Monthly Active Users Hit 356 Million, Falling Short Of Target; Revenue Up 16%; Podcast Listening Hits High

Spotify Monthly Active Users Hit 356 Million, Falling Short Of Target; Revenue Up 16%; Podcast Listening Hits High
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