Spotify impresses with Q4 results, shares surge
By Benjamin Chiou
Date: Tuesday 04 Feb 2025
(Sharecast News) - Spotify shares were rising strongly in pre-market trade on Tuesday after the music-streaming platform impressed with double-digit growth in users and revenues over the fourth quarter.
The company, which closed 2024 with its first full year of profitability, said it was "stronger than ever" and outperformed across all key metrics.
Monthly active users were up 12% year-on-year at 675m, beating the company's own guidance by around 10m, while subscriber numbers increased 11% to 263m. This helped revenues 16% higher to €4.2bn.
Profits in the fourth quarter totalled €367m, compared with a loss of €70m the year before.
"I am very excited about 2025 and feel really good about where we are as both a product and as a business," said Daniel Ek, Spotify's founder and chief executive.
"We will continue to place bets that will drive long term impact, increasing our speed while maintaining the levels of efficiency we achieved last year. It's this combination that will enable us to build the best and most valuable user experience, grow sustainably and deliver creativity to the world."
Stock futures were 8.5% higher at $549.08 by 0824 in New York.
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