Spotify (SPOT) Q1 2026 Earnings

Yes. Spotify reported Q1 2026 earnings of $3.45 a share on Apr 28, 2026, beating the $2.95 consensus estimate by 16.9%. Revenue was $4.5B against a $4.5B estimate.

Spotify delivered a decisive earnings beat in the first quarter of 2026, with earnings per share of $3.45 clearing the $2.95 consensus estimate by 16.93% as the streaming giant demonstrated that its push toward profitability is gaining real traction. Revenue of $4.53 billion edged past expectations by 0.24% and grew 8.2% year over year, supported by monthly active users climbing 12% to 761 million and Premium Subscribers reaching 293 million. The most material driver behind the earnings strength was a $184 million fair value gain on the settlement of Spotify's $1.5 billion Exchangeable Notes in March, which closed out the company's debt obligations and represented a sharp reversal from $180 million in fair value losses recorded in the same period a year ago. Operating income also rose substantially to $715 million from $509 million, reflecting both revenue growth and disciplined cost management, while free cash flow nearly doubled to $824 million. Still, forward subscriber and ad revenue guidance fell short of analyst expectations, sending shares lower after the report and drawing scrutiny from the investment community.