Music Giant Spotify's Q1 Surprise: Investors Cheer Premium Subscriber Growth And Profit Bump
Music Giant Spotify's Q1 Surprise: Investors Cheer Premium Subscriber Growth And Profit Bump
Spotify Technology SA (NYSE:SPOT) reported fiscal first-quarter 2024 revenue growth of 20% year-on-year to €3.64 billion ($3.95 billion), beating the consensus of $3.85 billion. EPS of €0.97 ($1.05) beat the consensus of $0.70.
Spotify Technology SA（紐約證券交易所代碼：SPOT）報告稱，2024財年第一季度收入同比增長20％，達到36.4億歐元（合39.5億美元），超過了市場預期的38.5億美元。每股收益爲0.97歐元（1.05美元），超過了市場預期的0.70美元。
Premium Revenue grew 20% year over year to €3.25 billion, helped by subscriber additions and ARPU increases.
受訂戶增加和ARPU增長的推動，保費收入同比增長20％，達到32.5億歐元。
Total MAUs (Monthly Active Users) rose 19% Y/Y to 615 million , which missed its guidance by 3 million. A "moderated marketing activity" led to "more normalized growth" following 2023's record performance, the Variety cites Spotify.
MAU（月活躍用戶）總數同比增長19％，達到6.15億，未達到預期的300萬。《綜藝》援引Spotify的話說，繼2023年創紀錄的表現之後，“適度的營銷活動” 帶動了 “更正常的增長”。
The lower-than-expected MAU growth also came amid "organizational change," referring to Spotify's December 2023 layoffs when the company slashed 17% of its workforce.
月活躍用戶增長低於預期，也是在 “組織變革” 的背景下出現的，指的是Spotify在2023年12月裁員，當時該公司裁員了17％。
Ad-supported MAUs grew 22% Y/Y to 388 million. Premium Subscribers grew 14% Y/Y to 239 million.
廣告支持的活躍用戶同比增長22％，達到3.88億。高級訂閱者同比增長14％，達到2.39億。
Within Premium, the average revenue per user (ARPU) rose by 5% year over year to €4.55. Ad-supported revenue rose 18% to €389 million.
在高級版中，每位用戶的平均收入（ARPU）同比增長5％，達到4.55歐元。廣告支持的收入增長了18％，達到3.89億歐元。
Margins: The gross margin improved by 243 bps to 27.6%, reflecting improved podcast and music profitability. The Premium gross margin was 30.2%, up 155 bps Y/Y, reflecting Marketplace growth.
利潤率：毛利率提高了243個點子至27.6％，反映了播客和音樂盈利能力的提高。保費毛利率爲30.2％，同比增長155個點子，反映了市場的增長。
The ad-supported gross margin was 6.4%, which is up 947 bps Y/Y, reflecting an improvement in podcast and music profitability. Operating income improved to a new quarterly high of €168 million with a margin of 4.6%.
廣告支持的毛利率爲6.4％，同比增長947個點子，反映了播客和音樂盈利能力的提高。營業收入提高至1.68億歐元的季度新高，利潤率爲4.6％。
Spotify held €4.7 billion in cash and equivalents and generated €207 million in free cash flow.
Spotify持有47億歐元的現金及等價物，創造了2.07億歐元的自由現金流。
Outlook: Spotify expects second-quarter revenue of €3.8 billion (consensus $3.76 billion) and total MAUs of 631 million.
展望：Spotify預計第二季度收入爲38億歐元（共識爲37.6億美元），年活躍用戶總額爲6.31億美元。
Spotify stock gained over 107% in the last 12 months. Investors can gain exposure to the stock via Global X Social Media ETF (NASDAQ:SOCL) and ProShares On-Demand ETF (NYSE:OND).
在過去的12個月中，Spotify的股票上漲了107％以上。投資者可以通過Global X社交媒體ETF（納斯達克股票代碼：SOCL）和ProShares按需ETF（紐約證券交易所代碼：OND）獲得股票敞口。
Price action: SPOT shares traded higher by 8.27% at $294.75 premarket at the last check Tuesday.
價格走勢：在週二的最後一次盤前檢查中，現貨股價上漲8.27％，至294.75美元。
Photo courtesy: Spotify
照片來源：Spotify