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stocksAug 4, 2026, 10:16 AM

Spotify Q2 Revenue Misses by €10M, Premium Subs Top 300M; Q3 Guidance Above Estimates

Spotify reported Q2 2026 revenue of €4.78B, just below the €4.79B estimate, while premium subscribers hit 300M vs 299.16M expected. The company guided Q3 revenue to €5B, above the €4.93B consensus.

SPOT

Spotify Technology SA reported mixed second-quarter results. Revenue came in at €4.78 billion, slightly missing the consensus estimate of €4.79 billion. Gross margin of 33.4% exceeded the 33.1% forecast. Monthly active users reached 777 million, just shy of the 778.18 million estimate, while total premium subscribers grew to 300 million, topping the 299.16 million analyst expectation.

For the third quarter, the company guided for revenue of €5 billion, above the €4.93 billion consensus. It expects a gross margin of 32.9%, matching estimates, and total premium subscribers of 305 million, roughly in line with the 305.3 million forecast. MAU guidance of 788 million fell short of the 793.52 million estimate.

Source: First Squawk