Spotify: first-quarter results meet guidance
(CercleFinance.com) - Music streaming service Spotify said on Monday that its first-quarter results have met its guidance, boosted by its recent launch in India.
The number of monthly active users (MAUs) grew by 26% to 217 million in the first three months of the year, within the 215-220 million guidance range the Swedish-born company gave earlier this year.
In the meantime, premium subscribers grew to 100 million, up 32%, reaching the high end of its guidance range of 97-100 million, it added.
Total first-quarter revenue rose 33% to 1.51 billion euros, Spotify said, but with operating expenses up 30% to 420 million euros, operating losses reached 47 million euros in the last quarter.
For the second quarter, the company said it expects between 222 million and 228 million monthly active users, and between 107 million and 110 million total premium subscribers.
The Spotify share was down 0.9% on the Nasdaq after these results.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The number of monthly active users (MAUs) grew by 26% to 217 million in the first three months of the year, within the 215-220 million guidance range the Swedish-born company gave earlier this year.
In the meantime, premium subscribers grew to 100 million, up 32%, reaching the high end of its guidance range of 97-100 million, it added.
Total first-quarter revenue rose 33% to 1.51 billion euros, Spotify said, but with operating expenses up 30% to 420 million euros, operating losses reached 47 million euros in the last quarter.
For the second quarter, the company said it expects between 222 million and 228 million monthly active users, and between 107 million and 110 million total premium subscribers.
The Spotify share was down 0.9% on the Nasdaq after these results.
Copyright (c) 2019 CercleFinance.com. All rights reserved.