• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Spotify Reports Better-than-expected First Quarter Earnings

Ibhadojemu Emmanuel by Ibhadojemu Emmanuel
April 27, 2022
in Uncategorised
Share on FacebookShare on Twitter

Audio streaming service Spotify has released its first-quarter earnings results. The results released on Wednesday surpassed the expectations of analysts. The quarter saw the company grow in advertising income and user subscriptions. The company’s shares were up about 5 percent before the bell.

For the first quarter, Spotify reported a 24 percent growth in revenue to 2.66 billion euros or $2.82 billion. Analysts had projected revenue for the quarter to come in at 2.62 billion euros.

The company said the share of podcasts in content consumption on its platform increased by double digits and even hit a new all-time high in the quarter.

The company’s guidance for total active monthly users is 428 million in the second quarter. This guidance considers the fact that the company halted its operations in Russia as well as the reversal of a loss of users after a service outage that occurred in March. The company expects revenue for the second quarter to come in at 2.8 billion euros slightly short of analysts’ estimates of 2.81 billion.

In the quarter, premium subscribers who make up a major part of the company’s revenue grew to 182 million from 158 million. Advertisement-supported revenue grew 31 percent to 282 million euros.

Total monthly active users rose 19% to a record 422 million in the first quarter ending March 31.

Spotify has a huge belief in podcasts and has invested more than a billion dollars in acquiring shows such as the “The Joe Rogan Experience” and its Other Businesses category. It hopes to grow its non-music audio segment. During the call with analysts, CEO Daniel Ek said that “Overall podcast consumption is strong and increasingly sticky.”

Swedish-based Spotify competes majorly with America’s Apple Music and France-based Deezer in the audio streaming space. Spotify provides millions of songs and podcasts for users to enjoy.

Related Posts:

  • Spotify's Second Quarter Results Surpasses Analysts'…
  • Spotify's Third-quarter Revenue Narrowly Surpasses Analysts' Estimates
    Spotify's Third-quarter Revenue Narrowly Surpasses…
  • lenovo-yoga-book-feature-awesome-specs-android
    Apple Reports Impressive Fiscal Third Quarter…
  • Pinterest Reports Impressive Quarterly Results, The Positive Sign Needed By Investors
    Pinterest Reports Impressive Quarterly Results, The…
  • Killings By Police March
    eBay Reports Better-than-expected Third Quarter…
  • Cisco Reports Fiscal Fourth Quarter Earnings Results, Issues Better-than-expected Guidance For Its Full 2023 Fiscal Year
    Cisco Reports Fiscal Fourth Quarter Earnings…
  • Amazon Reports Impressive Results, Issues Positive Guidance For The Next Quarter
    Amazon Reports Impressive Results, Issues Positive…
  • Zoom’s Fiscal Second Quarter Revenue Falls Below…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Ibhadojemu Emmanuel

Ibhadojemu Emmanuel

Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • Top 10 Fee-Free Fintech Apps Nigerians Are Turning To After CBN’s New Charges May 8, 2025
    • Airtel Launches Mobile Money in 2026 to Rival M-Pesa & MoMo May 8, 2025
    • Nigeria Hits 172M Mobile Subscriptions; MTN Tops 90M Barrier May 8, 2025
    • WhatsApp Developing AI Chat Wallpapers & Message Summaries May 8, 2025
    • Bill Gates to Wind Down Foundation by 2045, Slams Elon Musk Over USAID Cuts May 8, 2025
    • Central Bank of Nigeria Approves Open Banking Launch This August. Here’s what to Know May 8, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Popular Tags

    africa (135) AI (497) android (367) app (717) Apple (576) artificial intelligence (419) business (482) china (132) cryptocurrency (209) ecommerce (122) enterprise (287) facebook (507) fintech (244) funding (121) gadget (558) gaming (201) google (709) government (469) instagram (173) internet (466) ios (291) iphone (246) meta (116) microsoft (369) mobile (352) new feature (384) nigeria (440) privacy (158) research (140) samsung (185) security (421) smartphone (277) social media (835) software (509) startup (419) streaming (174) telecom (242) tips (372) twitter (289) united states (216) users (158) videos (127) website (173) whatsapp (201) youtube (138)

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy

    About Us

    TechBooky

    TechBooky is a social Tech blog with a special focus on the budding African Technology sector. TechBooky is currently based in Abuja, Nigeria.

    Recent News

    Top 10 Fee-Free Fintech Apps Nigerians Are Turning To After CBN’s New Charges

    Top 10 Fee-Free Fintech Apps Nigerians Are Turning To After CBN’s New Charges

    May 8, 2025
    Airtel Launches Mobile Money in 2026 to Rival M-Pesa & MoMo

    Airtel Launches Mobile Money in 2026 to Rival M-Pesa & MoMo

    May 8, 2025
    MTN Recovers ₦32 Billion in USSD Fees

    Nigeria Hits 172M Mobile Subscriptions; MTN Tops 90M Barrier

    May 8, 2025
    WhatsApp Developing AI Chat Wallpapers & Message Summaries

    WhatsApp Developing AI Chat Wallpapers & Message Summaries

    May 8, 2025
    Bill Gates to Wind Down Foundation by 2045, Slams Elon Musk Over USAID Cuts

    Bill Gates to Wind Down Foundation by 2045, Slams Elon Musk Over USAID Cuts

    May 8, 2025
    Central Bank of Nigeria Approves Open Banking Launch This August. Here’s what to Know

    Central Bank of Nigeria Approves Open Banking Launch This August. Here’s what to Know

    May 8, 2025
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok