Spotify (SPOT) Skyrockets 14.7% on Strong Earnings

SPOT -8.49%

We recently published 10 Stocks Delivering Massive Returns. Spotify Technology SA (NYSE:SPOT) was one of the best performers on Tuesday.

Spotify soared by 14.75 percent on Tuesday to close at $476.02 apiece as investor sentiment was boosted by its strong earnings performance last year.

In an earnings call, Spotify Technology SA (NYSE:SPOT) said that attributable net income last year surged by 94 percent to 2.2 billion euros from 1.1 billion euros in 2024. Total revenues jumped by 10 percent to 17.19 billion euros from 15.67 billion euros year-on-year.

In the fourth quarter alone, Spotify Technology SA (NYSE:SPOT) generated 1.17 billion euros in net income, higher by 220 percent than the 367 million euros year-on-year.

Copyright: dennizn / 123RF Stock Photo

Revenues stood at 4.5 billion euros, higher than the 4.2 billion euros on the same comparable period.

During the quarter, Spotify Technology SA (NYSE:SPOT) also ended at 290 million premium subscribers, marking a 10 percent jump year-on-year.

Monthly active users stood at 751 million, or 11 percent higher than last year.

“Today, what we’ve really built is a technology platform for audio—and increasingly, for all the ways creators connect with audiences. And this identity will matter even more going forward. The next wave of technology shifts—AI, new interfaces, wearables, new ways of interacting with content—these will reshape how people discover and experience audio and media. The hard problems ahead—in music, in podcasts, in books, in video, in live, and in things we haven’t built yet—we’re going to keep building the technology to solve them,” said Executive Chairman Daniel Ek.

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Disclosure: None. This article is originally published at Insider Monkey.