Spotify Technology SA

SPOT: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Spotify Earnings: Amazing Year Concludes With an Exclamation Point; FVE to $450 from $390

Matthew Dolgin

Feb 4, 2025

Spotify materially exceeded its guidance as it posted record fourth-quarter subscriber additions and revenue growth remained strong (17% year over year). More critically, operating income and free cash flow continued to surge as the firm ended its first year of net profitability.

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Spotify Technology SA

Spotify Earnings: Amazing Year Concludes With an Exclamation Point; FVE to $450 from $390

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