"We passed 760 million monthly active users, delivered the premium user growth we had targeted and saw strong engagement from existing, returning and new users," said one of Spotify's co-CEOs, Alex Norström, in an emailed comment on the report.
The stock continues to fall
The New York-listed Spotify stock had lost about 15 percent of its value since the start of the year before the report. It continued to fall by about 9 percent in futures trading on Wall Street after the report.
The number of monthly users increased to 761 million, according to Spotify's report for the first quarter of this year. Of these, 293 million were paying, so-called premium subscribers.
According to the company's own forecast presented in February, in connection with its financial statements for 2025, Spotify had expected a total of 759 million monthly users in the first quarter, of which 293 million were premium subscribers.
Spotify - a world leader in streaming music and podcasts - also reported operating profit of 715 million euros. Expectations were 660 million euros. Revenue in the quarter rose 8 percent to 4.5 billion euros, which was in line with the forecast.
Continued growth in sight
During the second quarter of this year, Spotify expects continued subscriber growth, up to 778 million monthly users, of which 299 million are premium subscribers.
According to the company's forecast, revenue is expected to increase to EUR 4.8 billion, which would result in an operating profit of EUR 630 million.
"We are well positioned thanks to our large and engaged user base, strong relationships with creators and many years of investments in personalization and infrastructure on a large scale," said the company's other co-CEO, Gustav Söderström.
