Spotify's Q2 Earnings: Revenue Grows 20% As Premium Revenue Surge Drives Higher Average Revenue Per User

Quick Summary:

Spotify Technology SA (NYSE:SPOT) reported fiscal second-quarter 2024 revenue growth of 20% year-on-year to $4.099 billion (3.81 billion euros), missing the analyst consensus estimate of $4.170 billion. 

EPS of $1.43 (1.33 euros) beat the analyst consensus estimate of $1.15.

Premium Revenue grew 21% year over year to 3.35 billion euros, helped by subscriber additions and ARPU increases. Ad-supported revenue grew 13% Y/Y to 456 million euros.

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Article Details

Author / Journalist: Anusuya Lahiri

Category: Technology

Markets: United States

Topics: Eurozone Benzinga Guidance Tech Movers Media Briefs News SPOT Why it's moving Stories That Matter Earnings Top Stories

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-23 @ 11:24:08 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 307 words

Reading Time: 2 minutes read

Sentences: 15 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21750574

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