Spotify forecasts higher holiday-quarter profit and subscriber growth
Spotify ($SPOT) reported third-quarter 2026 revenue of approximately €4.97 billion and operating profit of €672 million. Premium subscribers increased 9% to 306 million, while monthly active users rose 11% to 788 million. Gross margin reached 33%, an improvement of 136 basis points, as the audio-streaming business continued to scale.
For the fourth quarter of 2026, management expects operating profit of €820 million, above the approximately €813 million analyst consensus cited by Reuters. It projects 316 million premium subscribers and 818 million monthly active users. Those forecasts imply another ten million paying subscribers, but remain targets rather than achieved results. Investment in AI-based discovery and engagement continues, while the company expects operating-expense growth to moderate after the third quarter.
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