Spotify Releases Second Quarter 2023 Financial Results

Today, Spotify released financial results for the second quarter of 2023.

A very successful quarter was had by Spotify. With growth continuing to come from markets all over the world, we exceeded guidance and welcomed more users and subscribers.

We anticipated charges in the second quarter as a result of our ongoing efforts to build a stronger and more efficient company, as we foretold on the Q1 earnings call. These were not included in the Q2 forecast that we gave last quarter.

• Monthly Active Users surged 27% to 551 million. Net additions of 36 million were 21 million ahead of guidance and represent an all-time high for the company.

• Subscribers grew 17% Y/Y to 220 million. Net additions of 10 million were 3 million ahead of guidance and represent the highest Q2 in company history.

• Total Revenue grew 11% Y/Y to €3.2 billion, in-line with guidance.

• Adjusted Gross Margin** finished in-line with guidance at 25.5% excluding charges related to our actions in the quarter to streamline operations and reduce costs.

• Adjusted Operating Loss** of (€112) million was better than guidance, excluding charges related to our actions in the quarter to streamline operations and reduce costs.

Take a look at the additional highlights below:

Click here to review the full earnings release and listen to the webcast Q&A on our Investor Relations site here. And click below to check out a sizzle reel of audio trailers from a few of our recent original and exclusive podcasts.

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