Spotify (SPOT) Q4 2025 Earnings

Yes. Spotify reported Q4 2025 earnings of $4.43 a share on Feb 10, 2026, beating the $2.85 consensus estimate by 55.6%. Revenue was $4.5B against a $4.5B estimate.

Spotify closed out fiscal 2025 with a decisive earnings beat, reporting Q4 EPS of $4.43 against a consensus estimate of $2.85, a 55.57% positive surprise, while revenue of $4.53 billion edged past the $4.52 billion forecast and grew 6.8% year over year. The standout driver was a record gross margin of 33.1%, up 83 basis points year over year, powered by strong Premium segment performance and a notable 441 basis point improvement in Ad-Supported gross margin, which together lifted operating income to $701 million, well above guidance of $620 million. Net income reached $1.17 billion, up sharply from $367 million a year earlier, boosted by $349 million in finance income and a $153 million tax benefit. Monthly active users hit 751 million after 38 million net additions, exceeding internal guidance of 32 million, a figure that has helped analysts counter concerns about AI-driven music tools disrupting the platform's growth. Looking ahead, Spotify guided Q1 2026 revenue of $4.50 billion and operating income of $660 million, with management flagging an approximately 670 basis point foreign exchange headwind to reported growth.