Spotify Q2 reports higher than expected subscriber count, but revenue misses guidance | Infinium-tech

Spotify reported its performance for the second quarter of this year. The streaming service added more customers than expected, although the total revenue and operational income decreased by expectations.

After adding 5 million premium customers to Q1, it added 8 million more (more than 3 million forecasts) in this quarter. Compared to Q2 last year, the number of premium customers increased by 12%, however, advertising customers are 1% below.

Spotify Q2 2025 Report

Overall, Spotify had 696 million monthly active users (MAU) in Q2 2025, which was 11% compared to the same period last year. Of this, the premium customers are 276 million. Guidance was for 689 million MAUs and 273 million premium customers.

However, the total revenue for Q2 was € 4.2 billion and operating income was € 406 million, both are below € 4.3 billion and € 539 million. You can find a detailed breakdown in This PDF,

Distribution and development of monthly active users and premium customers

Spotify is included in Sweden, which brings some expenses not seen in American companies. For example, a high stock price led more than € 98 million in social charges compared to an estimated (contribution of employers).

Spotify also posted his approach to Q3. It expects to reach 710 million MAUs (+14 million in this quarter), in which total premium customers reach 281 million (+5 million QOQ). However, the total revenue is expected to remain the same as € 4.2 billion, which is € 4.2 billion with € 485 million operating income (with expected € 25 million in social fee on the basis of Q2 share price).

Additionally, the board of directors approved an increase of $ 1 billion to the company’s shares repayment program, which brought a total of $ 2 billion. Out of this, $ 104 million has already been spent on recurring shares.

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