Spotify's third quarter showed steady growth and €672 million in operating profit, but revenue landed a hair under what analysts expected.
Spotify now has 306 million paying subscribers, up 9% from a year ago. Its third-quarter revenue rose 16% to €4.97 billion. That was just below the €4.98 billion analysts had expected, according to Bloomberg's report on the results.
Operating income is the profit from running the business itself, before things like interest and taxes. Monthly active users are people who used Spotify in a month, whether they pay or use the free version.
The yearly growth looks healthy. The quarter-to-quarter picture is quieter. Monthly active users grew only 1% from the prior quarter. That is a small step, and it is the number investors may watch most closely.
The material available does not say why revenue came in slightly short. It also does not cover Spotify's outlook for the next quarter, how its stock reacted, or how the subscriber gain compares with the previous quarter. Those details would show whether this is a brief pause or a slowing trend.
Spotify is still growing and profitable, but the small quarter-to-quarter rise in users is the figure to keep an eye on.
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