Spotify Technology S.A. reported third-quarter 2026 revenue of €4.969 billion and EPS of €2.48, below analyst consensus of €4.98 billion and €2.81, respectively. Revenue fell short by approximately €11 million and EPS by €0.33. Premium Subscribers reached 306 million, exceeding the 305 million estimate. These comparisons are against analyst consensus, which is separate from company guidance.
Key Highlights
- Premium Subscribers reached 306 million, a 9% Y/Y increase and 1 million above the 305 million estimate.
- Total revenue grew 16% Y/Y to €4.969 billion, approximately €11 million below the €4.98 billion estimate.
- EPS was €2.48, €0.33 below the €2.81 estimate.
- Gross margin reached 33.0%, while Monthly Active Users increased 11% Y/Y to 788 million.
- Free Cash Flow was €735 million during the quarter.