Euphoric public statements are emanating from Spotify as the world’s leading streaming audio platform releases Q3 earnings.
“We’ve never been in a stronger position, thanks to the outstanding execution by our team.” –Daniel Ek, CEO, Spotify
Highlights at the front end of the public financial report:
- Subscribers grew to 252 million, a 12% year-over-year rise.
- Monthly active users (MAUs) rose correspondingly, up 11% to 641 million year-over-year.
- A new record gross margin was set in Q3, at 31.1%.
- Operating income also set a record: 454M Euros ($480M)
And the graphic version:
More detail and less graphic design goes into the financial summary below:
Just as the year-over-year comparisons are positive (the first graphic), the quarter-over-quarter measurements above show corresponding gains in single-digit percentages.
“The business delivered strong Q3 results, as all of our KPIs met or exceeded guidance and profitability reached record levels.” –Spotify Q3 earnings Executive Summary. (Click that link for much more revenue, margin, expense, and cash flow details than we provide here.)
We also appreciate the detail provided in the chart below, a global review of active users over five quarters:
All results were in-line or in excess of the guidance Spotify provided executives in previous calls. And investors were happy:
