Spotify Technology Posts Narrower Operating Loss In Q1 - Quick Facts

(RTTNews) - Spotify Technology S.A. (SPOT) reported a first quarter operating loss of 17 million euros compared to a loss of 47 million euros, last year. Loss per share was 0.20 euros compared to a loss of 0.79 euros.

First quarter total revenue was 1.85 billion euros, an increase of 22% year-on-year. Premium revenue grew 23% to 1.7 billion euros. Total MAUs grew 31% to 286 million.

For full year 2020, the company reduced its total revenue guidance to 7.65 billion euros to 8.05 billion euros, from previous guidance range of 8.08 billion euros to 8.48 billion euros. The company reiterated other elements of its fiscal year guidance.

For the second quarter, the company expects: operating loss of 45 million euros to 95 million euros, and total revenue of 1.75 billion euros to 1.95 billion euros. Total MAUs are projected in a range of 289 million to 299 million.