SPOT Stock - Spotify Technology S.A.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $15.67B | $13.25B | $11.73B | $9.67B | $7.88B |
| Gross Profit | $4.72B | $3.40B | $2.93B | $2.59B | $2.02B |
| Gross Margin | 30.1% | 25.6% | 25.0% | 26.8% | 25.6% |
| Operating Income | $1.36B | $-446,000,000 | $-659,000,000 | $94.00M | $-293,000,000 |
| Net Income | $1.14B | $-532,000,000 | $-430,000,000 | $-34,000,000 | $-581,000,000 |
| Net Margin | 7.3% | -4.0% | -3.7% | -0.4% | -7.4% |
| EPS | $5.67 | $-2.73 | $-2.23 | $-0.18 | $-3.10 |
Spotify Technology S.A., together with its subsidiaries, provides audio streaming services worldwide. It operates through Premium and Ad-Supported segments. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers. The Ad-Supported segment provides on-demand online access to its catalog of music and unlimited online access to the catalog of podcasts to its subscribers on their computers, tablets, and compatible mobile devices. The company also offers sales, marketing, contract research and development, and customer support services. As of December 31, 2021, its platform included 406 million monthly active users and 180 million premium subscribers in 184 countries and territories. The company was incorporated in 2006 and is based in Luxembourg, Luxembourg.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 17th 2025 | Citizens JMP | Initiation | Mkt Outperform | $800 |
| December 5th 2025 | Erste Group | Downgrade | Hold | - |
| November 5th 2025 | Pivotal Research Group | Reiterated | Buy | $875← $900 |
| September 30th 2025 | Goldman | Downgrade | Neutral | $770 |
| September 29th 2025 | Argus | Initiation | Buy | $845 |
| September 16th 2025 | BNP Paribas Exane | Initiation | Outperform | $900 |
| July 30th 2025 | DZ Bank | Upgrade | Hold | $652 |
| July 24th 2025 | Oppenheimer | Upgrade | Outperform | $800 |
| June 17th 2025 | Pivotal Research Group | Reiterated | Buy | $900← $800 |
| April 21st 2025 | Wolfe Research | Upgrade | Outperform | $660 |
| March 28th 2025 | FBN Securities | Initiation | Sector Perform | $645 |
| March 26th 2025 | China Renaissance | Initiation | Buy | $740 |
| March 11th 2025 | Redburn Atlantic | Resumed | Neutral | $545← $230 |
| February 5th 2025 | Rosenblatt | Downgrade | Neutral | - |
| January 17th 2025 | Wolfe Research | Downgrade | Peer Perform | - |
Earnings History & Surprises
SPOTEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q1 2026 | Feb 3, 2026 | $3.11 | — | — | — |
Q4 2025 | Nov 4, 2025 | $2.29 | $3.83 | +67.2% | ✓ BEAT |
Q3 2025 | Jul 29, 2025 | $2.30 | $-0.48 | -120.9% | ✗ MISS |
Q2 2025 | Apr 29, 2025 | $2.37 | $1.13 | -52.3% | ✗ MISS |
Q1 2025 | Feb 4, 2025 | $2.06 | $1.88 | -8.7% | ✗ MISS |
Q4 2024 | Nov 12, 2024 | $1.88 | $1.61 | -14.4% | ✗ MISS |
Q3 2024 | Jul 23, 2024 | $1.06 | $1.33 | +25.5% | ✓ BEAT |
Q2 2024 | Apr 23, 2024 | $0.65 | $0.97 | +49.2% | ✓ BEAT |
Q1 2024 | Feb 6, 2024 | $-0.08 | $-0.39 | -387.5% | ✗ MISS |
Q4 2023 | Oct 24, 2023 | $-0.22 | $0.33 | +250.0% | ✓ BEAT |
Q3 2023 | Jul 25, 2023 | $-0.63 | $-1.55 | -146.0% | ✗ MISS |
Q2 2023 | Apr 25, 2023 | $-0.85 | $-1.16 | -36.5% | ✗ MISS |
Q1 2023 | Jan 31, 2023 | $-1.28 | $-1.43 | -11.7% | ✗ MISS |
Q4 2022 | Oct 25, 2022 | $-0.84 | $-0.99 | -17.9% | ✗ MISS |
Q3 2022 | Jul 27, 2022 | $-0.68 | $-0.91 | -33.8% | ✗ MISS |
Q2 2022 | Apr 27, 2022 | $-0.26 | $0.24 | +192.3% | ✓ BEAT |
Q1 2022 | Feb 2, 2022 | $-0.42 | $-0.21 | +50.0% | ✓ BEAT |
Q4 2021 | Oct 27, 2021 | $-0.25 | $-0.48 | -92.0% | ✗ MISS |
Q3 2021 | Jul 28, 2021 | $-0.52 | $-0.23 | +55.8% | ✓ BEAT |
Q2 2021 | Apr 28, 2021 | $-0.61 | $-0.30 | +50.8% | ✓ BEAT |
Latest News
Citizens Initiates Coverage On Spotify Technology with Market Outperform Rating, Announces Price Target of $800
📈 PositiveSpotify Partners With NAVER To Introduce New Integrations, Offering In South Korea
📈 PositiveU.S. Trade Representative Says If EU And EU Member States Continue To Restrict Competitiveness Of U.S. Digital Service Providers, The U.S. Will Use Every Tool Available To Counter These Measures; Some Of The Largest EU Service Providers That Have Hitherto Enjoyed Market Access Include Accenture, Amadeus, Capgemini, DHL, Mistral, Publicis, SAP, Siemens, And Spotify; Should Responsive Measures Be Necessary, U.S. Law Permits The Assessment Of Fees Or Restrictions On Foreign Services, Among Other Actions
📉 NegativeUPDATE: 'US Threatens to Retaliate Against EU Companies Over Digital Tax' - Bloomberg News
📉 Negative'User Reports Indicate Problems At Spotify' - Downdetector
📉 NegativeCNBC Halftime Report Final Trades: Sabra Health Care REIT, Apollo Global Management, Spotify Technology, iShares Russell 1000 Value ETF
➖ NeutralSpotify Expands Music Videos In Beta To Premium Users In The U.S. And Canada
📈 PositiveSpotify Extends Partner Program To Nordic Markets As Video Podcast Consumption Climbs And Creator Earnings Exceed $100M In Early 2025
📈 PositiveSpotify, National Music Publishers' Association To Roll Out New Opt-In Portal For NMPA Members To Enter Direct License Agreement For Expanded Audiovisual Rights In U.S.
📈 PositiveBarclays Maintains Overweight on Spotify Technology, Lowers Price Target to $700
➖ NeutralCantor Fitzgerald Maintains Neutral on Spotify Technology, Raises Price Target to $675
📈 PositiveGuggenheim Maintains Buy on Spotify Technology, Lowers Price Target to $800
➖ NeutralBenchmark Maintains Buy on Spotify Technology, Raises Price Target to $860
📈 PositiveRosenblatt Maintains Neutral on Spotify Technology, Lowers Price Target to $670
➖ NeutralSPOT stock has given up its prior gain. Spotify shares were trading higher after the company reported better-than-expected Q3 financial results.
➖ NeutralSpotify's upbeat forecast, along with strong Q3 subs and results, lifts shares
📈 PositiveSpotify shares are trading higher after the company reported better-than-expected Q3 financial results.
📈 PositiveSpotify Technology Sees Q4 Sales $5.261B, Total MAUs 745M, Total Premium Subs 289M
📈 PositiveSpotify Q3 Total Monthly Active Users +11% Y/Y To 713M, Premium Subscribers +12% To 281M, Ad-Supported MAUs +11% To 446M
📈 PositiveSpotify Technology Q3 EPS $3.83 Beats $1.87 Estimate, Sales $4.994B Beat $4.920B Estimate
📈 PositiveFrequently Asked Questions about SPOT
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