Spotify Technology Reports Adj. Operating Income In Q4; Issues Q1 Outlook

(RTTNews) - Spotify Technology S.A. (SPOT) posted a fourth-quarter net loss to owners of the parent of 70 million euros compared to a loss of 270 million euros, a year ago. Loss per share was 0.36 euros compared to a loss of 1.40 euros. Operating loss was 75 million euros compared to a loss of 231 million euros, prior year. Excluding 143 million euros in charges associated with efficiency actions, adjusted operating income was 68 million euros, for the quarter.

Fourth-quarter total revenue grew 16% year-over-year to 3.7 billion euros. Revenue grew 20% on a constant currency basis. Premium revenue was up 17% or an increase of 21% in constant currency, led by subscriber gains and the effects of price increases. Total Monthly Active Users or MAUs were up 23% year-over-year to 602 million, above the company's guidance by 1 million. Premium Subscribers grew 15% to 236 million, above its guidance by 1 million.

For the first-quarter, the company projects: operating income of 180 million euros; and total revenue of 3.6 billion euros. Total MAUs are projected at 618 million, which implies the addition of approximately 16 million net new MAUs in the first quarter. Total Premium Subscribers are projected at 239 million, which implies the addition of approximately 3 million net new subscribers in the quarter.

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