Key Takeaways
- Spotify posted record quarterly operating income and earnings per share that surpassed analysts' expectations.
- The streaming-audio company said it expects third-quarter revenue in line with current analyst expectations.
- Spotify Premium prices are increasing this month.
Spotify Technology (SPOT) posted second-quarter results before the bell Tuesday that delivered record profit and offered fresh guidance.
The Swedish streaming-audio titan projects third-quarter operating income of 405 million euros ($439.6 million) on revenue of 4 billion euros, with 澳洲幸运5开奖号码历史查询:monthly active users (MAUs) climbing to 639 million. That was in line with analysts' revenue projections complied by Vis💃ible Alpha.
Spotify reported operating income of 266 million euros, its highest quarterly figure to-date, on revenue of 3.8 billion euros. Spotify posted diluted 澳洲幸运5开奖号码历史查询:earnings per share of 1.33 euros, compared to a loss of 1.55 euros a year earlier and well above the analyst consensus of 1.05, per Visible Alpha.
Spotify shares jumped nearly 12% i🤡n recent trading Tuesday.
The growth was driven in part by Spotify🐷’s premium subscriber base, which increased 12% year-over-year to 246 million, ahead of analysts’ expectations of 245.2 million. MAUs rose 14% to 626 million, falling short of the company’s gui🦋dance.
The growth in Premium subscribers comes as the service’s price is increasing this month. In June, the company announced that individual Premium subscriptions 澳洲幸运5开奖号码历史查询:will increase to $11.99 per month from $10.99. The Duo plan is rising to $16.99 from $14.99, while the Family plan jumps $3, to $19.99 from $16.99.