Earning Analysis
Welcome to our in-depth analysis of Spotify Technology SA(SPOT) earnings, offering investors a detailed look into the company’s financial performance, revenue trends, earnings per share (EPS), and market reactions. This page provides a comprehensive overview of Spotify Technology SA earnings history, forecasts, and key financial metrics, empowering you with the data needed to make informed investment decisions. Whether you're tracking quarterly results, analyzing earnings surprises, or exploring future projections, our detailed breakdown covers it all.
Earnings Forecast
Revenue
EPS
Currency: EUR
Actual
Estimate
Surprise Analysis
| FY2025Q3 | 2025-11-04 | Pre-Market | 1.87 | 3.83 | +104.81 | 4.23B | 4.27B | +0.93 | -2.25 | -4.22 |
| FY2025Q2 | 2025-07-29 | Pre-Market | 2.13 | -0.48 | -122.54 | 4.26B | 4.19B | -1.69 | -11.55 | -10.53 |
| FY2025Q1 | 2025-04-29 | Pre-Market | 2.29 | 1.13 | -50.66 | 4.20B | 4.19B | -0.24 | -3.48 | +7.74 |
| FY2024Q4 | 2025-02-04 | Pre-Market | 2.07 | 1.82 | -12.08 | 4.15B | 4.24B | +2.10 | +13.24 | +16.14 |
| FY2024Q2 | 2024-07-23 | - | 1.08 | 1.43 | +32.41 | 3.81B | 3.81B | -0.15 | +11.96 | +9.58 |
| FY2024Q1 | 2024-04-23 | - | 0.63 | 1.05 | +66.67 | 3.60B | 3.64B | +0.97 | +11.41 | +5.14 |
| FY2023Q4 | 2024-02-06 | - | -0.08 | -0.39 | -387.50 | 3.72B | 3.67B | -1.21 | +3.88 | +5.12 |
| FY2023Q3 | 2023-10-24 | - | -0.20 | 0.36 | +280.00 | 3.33B | 3.36B | +0.79 | +10.36 | +5.21 |
| FY2023Q2 | 2023-07-25 | - | -0.80 | -1.69 | -111.25 | 3.20B | 3.18B | -0.79 | -14.26 | -8.74 |
| - | 2023-04-25 | - | -1.01 | -1.24 | -22.77 | - | - | - | +5.14 | +5.31 |
SPOT Earnings Analysis
Our earnings analysis provides a granular look at the company’s performance across recent fiscal quarters, highlighting key metrics such as revenue, EPS, and operating margins. By examining actual results against analyst estimates, we uncover trends and surprises that drive stock price movements, offering valuable insights for both short-term traders and long-term investors.
In the most recent quarter, Spotify Technology SA reported performance for FY2025Q3, announced on 2025-11-04. The company achieved an EPS of 3.83, compared to analyst estimates of 1.87 by 104.81% . Revenue for the quarter reached 4.27B compared to expectations of 4.23B by 0.93% .
The stock price reacted with a -2.25% one-day change and a -4.22% five-day change following the earnings release. These movements reflect market reaction in Spotify Technology SA growth trajectory and strategic initiatives.
SPOT Earnings Forecast
Looking ahead, Spotify Technology SA(SPOT) remains a focal point for investors seeking growth opportunities. Analyst forecasts for 2025/Q4 project quarter revenue of 4.52B and an EPS of 2.74.
However, recent estimate revisions provide additional context. Over the past three months, revenue estimates for FY2025 have been Revise Downward by -0.25%, while EPS estimates have been Revise Upward by 31.56%. For the upcoming Q4 2025, revenue estimates have been adjusted Revise Downward by -1.32% . These revisions correlate with a -20.68% change in stock price over the same period, suggesting potential buying opportunities for investors who believe in Spotify Technology SA long-term fundamentals.
The relationship between earnings forecast revisions and stock price movements is critical for investors. Positive revisions in revenue or EPS often signal strengthening fundamentals, making temporary price dips attractive entry points. Conversely, downward revisions may reflect short-term challenges.
Estimate Revision
The chart shows the correlation between SPOT's stock price and earnings forecast revisions. Positive revisions in Revenue or EPS often strengthen the stock's fundamentals, making price dips potential buying opportunities.
Revenue Estimates for FY2025
Revise Downward
-0.25%
In Past 3 Month
EPS Estimates for FY2025
Revise Upward
+31.56%
In Past 3 Month
Revenue Estimates for Q4 2025
Revise Downward
-1.32%
In Past 3 Month
Stock Price
Go Down
-20.68%
In Past 3 Month
1Y
3Y
5Y
Annual FY 2025
Currency: USD
1Y
3Y
5Y
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Revenue Estimate-Annual FY 2025:17.18B
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EPS Estimate-Annual FY 2025:7.33
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Stock Price560.97
SPOT Revenue and EPS Performance: A Historical Perspective
Spotify Technology SA revenue and earnings per share (EPS) performance over recent quarters provides a clear picture of its financial health. Below is a detailed breakdown of the company’s earnings history, showcasing actual results, analyst estimates, and surprise percentages for key fiscal quarters:
FY2025Q3 (2025-11-04,Pre-Market):
EPS: 3.83 (Actual) vs.1.87 (Estimate) (104.81%)
Revenue: 4.27B (Actual) vs. 4.23B (Estimate) (0.93%)
Price Reaction: -2.25%(1-Day), -4.22%(5-Day)
FY2025Q2 (2025-07-29,Pre-Market):
EPS: -0.48 (Actual) vs.2.13 (Estimate) (-122.54%)
Revenue: 4.19B (Actual) vs. 4.26B (Estimate) (-1.69%)
Price Reaction: -11.55%(1-Day), -10.53%(5-Day)
FY2025Q1 (2025-04-29,Pre-Market):
EPS: 1.13 (Actual) vs.2.29 (Estimate) (-50.66%)
Revenue: 4.19B (Actual) vs. 4.20B (Estimate) (-0.24%)
Price Reaction: -3.48%(1-Day), 7.74%(5-Day)
Earnings Reaction
The chart below shows how SPOT performed 10 days before and after its earnings report, based on data from the past quarters. Typically, SPOT sees a -1.81% change in stock price 10 days leading up to the earnings, and a +2.56% change 10 days following the report. On the earnings day itself, the stock moves by +2.44%. This data can give you a slight idea of what to expect for the next quarter's release.
For example, in SEP/2025, the stock changed -1.52% on the day following the earnings release and then changed by 1.09% over the next 10 days. These patterns provide investors with valuable insights into potential price movements and help inform trading strategies around earnings events.
Transcript Summary
Spotify Technology SA (SPOT) Q3 2025 Earnings Call Summary
Positive
2025-11-04
The earnings call summary and Q&A session indicate several positive factors: strategic growth in user engagement and subscriber numbers, strong guidance for Q3 2025, and a focus on AI-driven personalization. The partnership with Netflix and increased share repurchase authorization further support a positive outlook. Despite some uncertainty in ad revenue growth, the overall sentiment is optimistic, with management highlighting potential growth areas and strategic partnerships. The positive guidance and strategic initiatives suggest a likely positive stock price movement over the next two weeks.
Spotify Technology SA (SPOT) Q2 2025 Earnings Call Summary
Positive
2025-07-29
The earnings call summary and Q&A reflect a generally positive outlook. Despite some concerns about advertising growth and unclear responses on investment specifics, the company shows strong subscriber growth, new market expansions, and optimistic guidance. The focus on innovation, video content, and AI integration further supports positive sentiment. While advertising challenges exist, the potential for monetization and engagement growth, alongside strategic changes, indicate a positive stock price movement.
Spotify Technology SA (SPOT) Q1 2025 Earnings Call Summary
Neutral
2025-04-30
The earnings call summary suggests a balanced outlook. Financial performance and market strategy appear positive, with strong ad business and subscriber growth. However, there are uncertainties, such as vague responses on product availability and subscription plans. The Q&A highlighted enthusiasm for product development and AI investment, but lacked specifics on new offerings. The mixed guidance, with strong current performance but unclear future plans, leads to a neutral sentiment, indicating a likely stock price movement within -2% to 2% over the next two weeks.
Spotify Technology SA (SPOT) Q1 2025 Earnings Call Summary
Neutral
2025-04-29
The earnings call presents a mixed outlook. Financial performance appears stable with expected growth in Q4 2025, and no increased marketing expenses. Management's cautious optimism about product development and AI integration is positive. However, the lack of clarity on the superfan product, podcast economics, and financial noise raises concerns. The company's focus on maintaining a strong balance sheet and industry partnerships is reassuring, but the absence of a significant catalyst or partnership announcement keeps the sentiment neutral.
Spotify Technology S.A. (SPOT) Q3 2024 Earnings Call Summary
Neutral
2024-11-13
The earnings call summary provides a mixed outlook. Positive elements include strong subscriber growth, product expansion, and optimistic guidance for Q3. However, there are concerns about slower advertising revenue growth and unclear responses on key strategic questions, such as the Super Premium offering and music royalties. Additionally, the company's focus on growth with profitability in 2025 suggests a long-term rather than immediate impact. The Q&A section reveals management's confidence but also highlights uncertainties. Therefore, the overall sentiment is neutral, with no strong catalysts for significant stock price movement in the short term.
Spotify Technology (SPOT) Q2 2024 Earnings Call Summary
Positive
2024-07-23
The earnings call highlighted strong financial performance, with record revenue, gross margin, operating income, and free cash flow, exceeding expectations. The Q&A section confirmed management's confidence in growth from developing markets and improving margins. Despite some uncertainties around advertising growth and legal matters, the overall sentiment was positive, with better-than-expected subscriber growth and ARPU. The lack of a share repurchase program slightly tempers the outlook, but the strong financial metrics and optimistic guidance suggest a positive stock price movement over the next two weeks.
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FAQ
What were the key highlights of SPOT’s latest earnings report for FY2025Q3?
How did SPOT’s stock price react after the FY2025Q3 earnings release?
What are the revenue and EPS estimates for SPOT for 2025/Q4?
How does SPOT’s stock price correlate with earnings forecast revisions?
What should investors expect from SPOT’s next earnings report?