WASHINGTON (dpa-AFX) - Spotify Technology S.A. (SPOT, 639.DE, 1SPOT.MI) reported first quarter net income attributable to owners of the parent of 721 million euros compared to 225 million euros, prior year. Earnings per share was 3.45 euros compared to 1.07 euros. Operating income was 715 million euros, for the quarter.
Premium Subscribers grew 9% year-over-year to 293 million. Monthly Active Users, or MAUs were up 12% to 761 million. Total revenue increased 14% in constant currency to 4.5 billion euros.
For the second quarter, the company expects: operating income of 630 million euros, total revenue of 4.8 billion euros, total MAUs of 778 million; and total Premium Subscribers of 299 million.
In pre-market trading on NYSE, Spotify shares are down 9.09 percent to $450.99.
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