Shulou(Shulou.com)11/24 Report--

CTOnews.com April 25 news, this evening, streaming music service provider Spotify released the first quarter of 2022 results. Spotify said its monthly active users exceeded 500m for the first time, thanks to the expansion of music streaming companies into more markets.

According to the financial report, Spotify's total revenue in the first quarter was 3.04 billion euros (CTOnews.com Note: currently about 23.104 billion yuan), up 14% from a year earlier, and Spotify's net loss of 225 million euros (currently about 1.71 billion yuan) was higher than expected, compared with a net profit of 131 million euros in the same period last year. Gross profit margin also fell to 25.2% from 25.3% in the same period last year.

Tuyuan Pexels's first quarter results:

Total revenue was 3 billion euros, up 14% from a year earlier, below the company's forecast of 3.1 billion euros, mainly because Spotify's advertising revenue was affected by the macroeconomic downturn.

The gross profit margin was 25%, compared with 25.2% in the same period last year.

The operating loss was 156 million euros, compared with an operating loss of 6 million euros in the same period last year.

The net loss was 225 million euros, compared with a net profit of 131 million euros in the same period last year.

The loss per share was 1.16 euros, compared with a profit of 0.21 euros per share in the same period last year.

According to Refinitiv's IBES data, the number of Spotify's monthly active users rose to 515 million in the first quarter, up 22% from a year earlier, exceeding the 500 million in Spotify guidelines and analysts' forecasts. This is also the first time that the number of Spotify's monthly active users has exceeded the 500 million mark.

According to reports, the number of paying users of Spotify has reached 210 million, an increase of 15% over the same period last year, higher than the 207 million expected by Spotify and 206 million expected by analysts, mainly due to the strong performance of the European and Latin American markets.

Looking ahead to the second quarter, Spotify expects revenue to reach 3.2 billion euros, below analysts' expectations of 3.26 billion euros. By then, the number of Spotify's monthly active users is expected to reach 530 million.

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