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Premium subscribers exceeded the company’s outlook by one million, while monthly active users matched its target at 788 million.
Spotify Technology S.A. reported lower quarterly earnings and revenue below analyst estimates as Premium subscribers grew 9% to 306 million, exceeding the company’s outlook for the quarter ended Sept. 30, 2026. Spotify released the results Oct. 22.
Diluted earnings per share were €2.48, compared with €3.28 a year earlier. Revenue was €4.97 billion, below analyst estimates and Spotify’s €5.0 billion outlook. Net income fell to €518 million from €899 million in the year-earlier quarter.
Premium subscribers reached 306 million, one million above the company’s outlook of 305 million. Monthly active users rose 11% year over year to 788 million, matching Spotify’s forecast.
Operating income was €672 million, slightly above the company’s €670 million outlook. For the fourth quarter, Spotify projected operating income of €820 million, above the analyst average of €813.4 million.
“This was a quarter where we did what we said,” Spotify co-CEO Alex Norstrom said.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.