Spotify reported quarterly earnings before the bell on Tuesday. Here's what to know.
) reported fiscal second quarter earnings on Tuesday that beat expectations as the audio giant posted record profit, gross margin , and free cash flow in the quarter on the heels of its
The streaming service reported net income of 274 million euros , or earnings of 1.33 euros per share. That was well ahead of analyst expectations of earnings of 1.04 euros per share. It also compares with the year-earlier period loss of 302 million euros , or a loss of 1.55 euros a share. Wall Street analysts credited Spotify's gross margin beat and better-than-expected guidance for Q3 operating income and gross margins as key catalysts for the positive stock reaction.Total monthly active users came in below company estimates of 631 million to hit 626 million in the quarter — but it was still a 14% improvement compared with the total in the year-ago period. The streaming service anticipates Q3 MAUs to come in at 639 million.
The average revenue per user, or ARPU, for Premium subscriptions increased 8% year over year to 4.62 euros . ARPU was driven by price increase benefits that were partially offset by discounted plans and lower prices in emerging markets, the company said.
Gross Margin Company Guidance Gross Margins Operating Income
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