Spotify Q4 Preview: EPS Seen +57% to $2.95 on $5.16B Revenue
Spotify is forecast to report Q4 2025 EPS of $2.95, a 57% year-over-year rise, on revenues of $5.16 billion, up 14%. Total MAUs are expected to reach 745.4 million (+10.4%), with 289.3 million premium subscribers (+10%) and 470 million ad-supported users (+10.6%).
1. Q4 Earnings Estimates
Spotify is slated to announce Q4 2025 results on February 10 before markets open. Analysts project earnings per share of $2.95, a 57% increase from a year ago, and revenue of $5.16 billion, reflecting 14% year-over-year growth.
2. User Metrics Growth
The consensus forecasts total MAUs at 745.4 million, up 10.4% year-over-year. Premium subscribers are expected to reach 289.3 million (+10%) and ad-supported users 470 million (+10.6%), driving top-line expansion.
3. Recent Price Performance and Valuation
Shares have fallen 34% over the past year and 33% in three months, yet trade at a forward P/E of 30x versus the industry average of 28.5x. The stock’s sell-off has not made valuations compelling, suggesting limited upside without additional catalysts.