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Here's What Key Metrics Tell Us About Spotify (SPOT) Q2 Earnings

By Zacks Equity Research | July 29, 2025, 9:30 AM

For the quarter ended June 2025, Spotify (SPOT) reported revenue of $4.76 billion, up 16.1% over the same period last year. EPS came in at -$0.48, compared to $1.43 in the year-ago quarter.

The reported revenue represents a surprise of -3.47% over the Zacks Consensus Estimate of $4.93 billion. With the consensus EPS estimate being $2.13, the EPS surprise was -122.54%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Spotify performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Total Monthly Active Users (MAUs): 696 million compared to the 689.11 million average estimate based on four analysts.
  • Ad-Supported MAUs: 433 million versus the three-analyst average estimate of 428.88 million.
  • Premium Subscribers: 276 million versus the three-analyst average estimate of 273.36 million.

View all Key Company Metrics for Spotify here>>>

Shares of Spotify have returned -8.7% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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This article originally published on Zacks Investment Research (zacks.com).

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