Spotify has published its latest quarterly financial results, revealing that it now has 210 million premium subscribers, and 515 million monthly active listeners.
Both figures beat the company’s guidance for analysts: it’s growing faster than it expected. The subscribers figure is up 15% year-on-year, while the users figure is up 22%.
One thing that fell slightly below expectations was Spotify’s revenue growth. The company made €3.04bn in Q1, up 14% year-on-year, but said that “macro-related variability in our advertising business” was the reason for missing its guidance.
Spotify recorded an operating loss of €156m for the quarter.
The company is predicting that it will add another 15 million net listeners and seven million net subscribers in the second quarter of the year.
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