Spotify Shares Jump 19% on Rising Subscriber Figures
<p><a href='https://financialmodelingprep.com/financial-summary/SPOT'>Spotify (NYSE:SPOT)</a> shares jumped nearly 19% following the company’s reported Q4 results on Tuesday, highlighted by a rising number of monthly active users and a margin beat. Q4 EPS was (EUR1.40), worse than the Street estimate of (EUR1.28). Revenue came in at EUR3.17 billion, slightly missing the Street estimate of EUR3.18 billion.</p>
<p>The company reported an increase of 20% in monthly active users (MAUs) to 489 million, better than the Street estimate of 478.5 million. </p>
<p>In addition, given the lower podcast content spend as well as continued strength in the core music business, SPOT exceeded its original 4Q/22 gross margin guidance by 80bps, while projecting steady margin improvement throughout 2023.</p>
<p>While the quarterly results were mixed, the company offer more upbeat guidance for Q4, specifically, it expects to reach 500M MAUs, including 207M premium subscribers.</p>

NYSE:SPOT