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 Notes offering, and the acquisition of Betty Labs (Locker Room).