Spotify: 4th quarter better than expected thanks to subscribers

(CercleFinance.com) - On Tuesday, Spotify reported better-than-expected results for Q4, with the online music specialist attracting more subscribers than expected.


The Swedish group said it had gained 11 million more premium subscribers than in Q3, bringing the total to 263 million by the end of December.

Pa comparison, it had set itself a target of 260 million at the start of the quarter.

The arrival of these new members, combined with lower operating expenses, enabled Spotify to post a net profit of 477 million euros in the last three months of the year, compared to a loss of 75 million a year ago.

Sales jumped 16% to 4.24 billion euros, against a consensus target of 4.15 billion.

With regard to its outlook, Spotify said it was well positioned to sign a new year of growth in 2025, while improving its margins.

The stock, which has consistently outperformed the Nasdaq over the past year, gained over 10% on Tuesday on the New York Stock Exchange following the publication of its quarterly results. Its gains over the past 12 months now stand at 146%.

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