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Spotify set for strong Q1 with rising revenue, margins, and new growth avenues

Company Fundamentals
09 Apr 2026
Proactive Investors
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Bullish
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Spotify is expected to report strong Q1 earnings with revenue projected at €4.55 billion, slightly above guidance, driven by 14.7% FX-neutral growth and margin improvements to 32.8%. Subscriber growth may slow due to price hikes, but ARPU is forecast to rise 5.3%, boosting premium revenue. Advertising revenue and operating income are also set to improve, supported by new licensing deals and marketing efforts. UBS maintains a positive outlook for 2026, expecting €19.4 billion in revenue and a potential catalyst from Spotify's upcoming Investor Day in May.

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