Spotify Q1 Earnings Beat, Shares Drop 6.8%

Spotify posted Q1 adjusted EPS €3.45 and revenue €4.53bn, both slightly above analyst expectations.
Monthly active users rose 12% YoY to 761 million, beating estimates and the company’s own guidance.
Operating income hit a record €715 million (15.8% margin) but Q2 guidance of €630 million fell short of forecasts, sending the stock down 6.8%.
Premium subscribers grew 9% YoY to 293 million, adding 3 million, while ad‑supported revenue fell 5% YoY to €385 million.