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They expect about 177 million to 181 million premium subscribers. They expect revenue to be somewhere between €2.54 billion to €2.68 billion. It was at the midpoint of the outlook that they gave, it was somewhere near a steady place for where analysts expect. But we can see for the outlook, their outlook for quarter four, I want to say it's a bit steady. Right now, in the past year, the S&P 500 has been outperforming it. I believe it's down over 25% from its 52-week high. One thing is, though, Spotify has definitely taken quite a hit from its 52-week high. I'm guessing a lot of people now going back to work with the overall commuting, they're probably listening to their podcast or music. But we can see with the premium subscriber beat, this is one that it's not only a COVID play. This was an important point - I believe this is why the stock price went up a nice amount.Ī lot of people probably thought Spotify was a nice COVID play, where only people working from home are listening to their services, so they weren't expecting much growth. I believe analysts were expecting somewhere around 171.5 million in premium subscribers. Their premium subscribers, and this is where they make most of their money, premium subscribers were 172 million and that was up 19% year over year and that also beat expectations. This beat expectations - it was actually up 27% year over year.

They are a European-based company, so they do report in euros. Jose Najarro: For those not familiar with Spotify, it is the music subscription service.