Spotify Technology S.A. (NYSE:SPOT) shares are trading higher on Wednesday.
On Tuesday, the company reported mixed first-quarter 2026 results, with revenue missing expectations even as earnings and user growth topped forecasts.
Earnings Beat, Revenue Misses
Spotify reported quarterly earnings of $4.04 per share, beating the analyst consensus estimate of $3.72 per share. Revenue rose 8% year over year to $5.308 billion (4.53 billion euros) but fell short of the $5.36 billion Street estimate.
For the second quarter of 2026, Spotify expects revenue of 4.80 billion euros, or about $5.545 billion, below the consensus estimate of $5.650 billion.
The company projects Premium subscribers to reach 299 million, implying roughly 6 million net additions. Monthly active users are expected to grow to 778 million, representing about 17 million net new users.
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $607.69. Recent analyst moves include:
- Goldman Sachs: Buy (Lowers Target to $600.00) (April 29)
- Guggenheim: Buy (Lowers Target to $565.00) (April 29)
- Citizens: Market Outperform (Lowers Target to $600.00) (April 29)
Analyst View On Spotify
Keybanc analyst Justin Patterson maintained an Overweight rating and slashed …