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What will Spotify's total revenue be for Q3 2024?
3
Resolution / Starting Odds
Less than €3.9 billion • 25%
€3.9 billion to €3.99 billion • 25%
€4 billion to €4.09 billion • 25%
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Spotify's official Q3 2024 earnings report
Story
Spotify Reports Record Profit in Q2, Revenue Hits €3.8B, Shares Surge 15%
Jul 23, 2024, 11:01 AM
Spotify reported strong Q2 2024 earnings, with total revenue up 20% year-over-year to €3.8 billion, matching estimates. The company saw a 14% increase in monthly active users (MAUs) to 626 million, slightly below the estimated 631.46 million. Premium subscribers grew by 12% year-over-year to 246 million, surpassing the estimated 245.2 million. The gross margin improved to 29.2%, exceeding the expected 28.1%. Spotify achieved an operating income of €266 million, compared to a loss of €247 million in the same period last year. Earnings per share (EPS) were €1.33, beating the estimate of €1.05. Following the earnings report, Spotify shares surged by as much as 15% pre-market. The company attributed its record profit and improved cash flow to price increases and cost-cutting measures.
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