Spotify’s Q1 Revenue up Over Year Ago Levels but Below Expectations

Spotify (SPOT) reported Q1 revenue of EUR 1.139 billion, up 26% year-over-year, and below of the analyst consensus of EUR 1.29 billion. Loss for the quarter was EUR 1.01 per share, vs. a year ago loss of EUR 1.15 per share. Analysts were expecting a loss of EUR 0.47 per share, if comparable.

The company noted it finished the quarter with 170 million Monthly Active Users (MAU) and 75 million Premium Subscribers, up 30% and 45%, respectively, Y/Y.

For Q2, the company is targeting monthly active users at 175-180 million, up 28% to 32% year over year. Premium subscribers are seen at 79-83 million. Revenue is targeted at EUR 1.1 to EUR 1.3 billion, vs. expectations of EUR 1.31 billion.

For the full year 2018, it expects revenue of EUR 4.9 to EUR 5.3 billion, vs. expectations of EUR 5.2 billion.

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