Spotify announced their third quarter 2023 performance. The streaming giant said that the business delivered strong results in Q3 with all its key indicators exceeded guidance and returned the company to profitability.
- Monthly Active Users were up 26% to 574 million and 2 million ahead of guidance.
- Subscribers grew 16% Y/Y to 226 million. Net additions of 6 million were 2 million ahead of guidance.
- Total Revenue grew 11% Y/Y to €3.4 billion, exceeding guidance.
- Gross Margin finished above guidance at 26.4%.
- Spotify returned to profitability, reporting Operating Income of €32 million for the quarter.
