Spotify (NYSE: SPOT) reported Q3 EPS of (EUR0.41), versus (EUR0.58) reported last year. Revenue for the quarter came in at EUR2.5 billion, versus EUR1.98 billion reported last year.

• Total MAUs grew 19% Y/Y to 381 million in the quarter, up from 365 million last quarter and near the top end of our guidance range

Q4 2021 OUTLOOK:

The following forward-looking statements reflect Spotify’s expectations as of October 27, 2021 and are subject to substantial uncertainty. The estimates below utilize the same methodology we’ve used in prior quarters with respect to our guidance and the potential range of outcomes. Given the extraordinary operating circumstances we currently face with respect to the impact of COVID-19, there is a greater likelihood of variances with respect to those ranges than typical quarters.

Q4 2021 Guidance: We have maintained our prior Q4 guidance for Total MAUs, Total Premium Subscribers, and Operating Profit/Loss, and have increased the bottom end of the range for Total Revenue and Gross Margin.

● Total MAUs: 400-407 million
● Total Premium Subscribers: 177-181 million
● Total Revenue: €2.54-€2.68 billion

Assumes approximately 250 bps tailwind to growth Y/Y due to movements in foreign exchange rates

● Gross Margin: 25.1-26.1%
● Operating Profit/Loss: €(152)-€(72) million

For earnings history and earnings-related data on Spotify (SPOT) click here.