Login

News on Medial

Spotify's monthly user numbers miss estimates on lower promotions

Economic TimesEconomic Times Ā· 7m
Spotify's monthly user numbers miss estimates on lower promotions

Swedish company Spotify reported Q1 results, with monthly active users (MAU) below its own estimates. Although MAUs increased by 19%, it fell short of Spotify's guidance and analysts' expectations. The company also projected Q2 MAUs at 631 million, missing estimates. Despite this, premium subscribers, who are the main source of revenue, grew by 14% to 239 million, in line with estimates. Spotify has been cutting costs, including through layoffs and reduced marketing expenses, to focus on increasing profits. Gross margins rose to 27.6% in Q1, aided by higher profits in the podcast business. Spotify's revenue for the quarter reached 3.64 billion euros ($3.89 billion), exceeding estimates. The company expects revenue to reach 3.8 billion euros in Q2.

5
View Source

Comments

More Like this

Spotify's user growth beats expectations, posts quarterly profit

Spotify's user growth beats expectations, posts quarterly profit

Swiggy 4-6 quarters behind Zomato: Macquarie

Swiggy 4-6 quarters behind Zomato: Macquarie

EU regulators in talks with Shein on online content rules

EU regulators in talks with Shein on online content rules

Spotify's monthly user growth, subscribers beat expectations

Spotify's monthly user growth, subscribers beat expectations

Crypto exchange Binance to stop accepting new users in UK

Crypto exchange Binance to stop accepting new users in UK

Pinterest's weak forecast signals intense competition for ad dollars

Pinterest's weak forecast signals intense competition for ad dollars

Spotify limits features for free users in India

Spotify limits features for free users in India

India Remains Largest Contributor To Truecaller's Revenue Stream - StartupNews.fyi

India Remains Largest Contributor To Truecaller's Revenue Stream - StartupNews.fyi

TikTok challenges EU supervisory fee, following Meta's footsteps

TikTok challenges EU supervisory fee, following Meta's footsteps

Donald Trumpā€™s Truth Social soars on market debut: all you need to know

Donald Trumpā€™s Truth Social soars on market debut: all you need to know

Download the medial app to read full posts, comements and news.