Wall Street analysts rerated Spotify Technology S.A. SPOT after it reported upbeat quarterly print Tuesday amid an exciting earnings season.
Here's our initial take on Spotify's (SPOT 9.27%) fourth-quarter financial report.
Spotify Technology S.A. (NYSE:SPOT ) Q4 2024 Earnings Conference Call February 4, 2025 8:00 AM ET Company Participants Bryan Goldberg - Head of Investor Relations Daniel Ek - Co-Founder and Chief Executive Officer Gustav Soderstrom - Co-President, Chief Product and Technology Officer Alex Norstrom - Co-President, Chief Business Officer Christian Luiga - Chief Financial Officer Operator Good morning and welcome to Spotify's Fourth Quarter 2024 Earnings Call and Webcast.
Spotify shares climbed 10% after the music streaming company recorded its first full year of profitability. The company said it paid a record $10 billion in royalties to the music industry in 2024.
Although the revenue and EPS for Spotify (SPOT) give a sense of how its business performed in the quarter ended December 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Spotify Technology reported impressive user growth and profitability metrics, though its financial metrics were mixed.
Spotify Technology SA (NYSE:SPOT) shares were blasted to a new all-time high on Tuesday as the music and podcast streamer turned in better fourth-quarter revenue and 2025 guidance than expected. The Sweden-headquartered group posted results showing quarterly revenue of €4.24 billion, up 16% compared to a year earlier and beating the average Wall Street estimate of €4.14 billion.
On Tuesday morning, Spotify announced its fourth-quarter earnings, marking its first full year of profitability since its inception 17 years ago. The operating income for the quarter reached a record €477 million ($509.48 million) and amounted to €1.4 billion ($1.495 billion) for the 2024 fiscal year.
Spotify (SPOT) shares are jumping around 8% in premarket trading Tuesday, after the Swedish audio streaming giant posted its first full-year profit and quarterly revenue that beat estimates.
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Shares in music streamer Spotify (NYSE: SPOT) are up nearly 9% in premarket trading as of the time of this writing after the company reported fourth-quarter earnings results for its fiscal 2024.
Spotify (SPOT) came out with quarterly earnings of $1.88 per share, missing the Zacks Consensus Estimate of $1.92 per share. This compares to loss of $0.39 per share a year ago.