(Spotify) Spotify’s monthly active users were recorded at 422 million in the first quarter of 2022, up by 19% from the prior year. The MAUs surpassed an initial guidance increase of 4 million.
The company said that its Premium Subscribers increased by 15% from the prior year to reach 182 million in the first quarter. The premium ARPU rose by 6% from the prior year.
Spotify reported a revenue of 2.661 billion euros revenue in the first quarter, an increase of 24% from the prior year or 19% on a constant currency basis. Premium Revenue increased by 23% to 2.379 billion euros.
The company also said it hit the largest first-quarter Ad-Supported Revenue, which was 11% of the total revenue, with robust growth across all channels and regions.
The average revenue per user was reported at 4.38 euros in the first quarter, an increase of 6% from the prior year.
The robust quarter saw Spotify report a gross margin of 25.2% in the quarter, slightly above guidance but down by 29 basis points from the prior year.
Spotify reported an operating loss of 6 million euros in the first quarter, lower than a loss of 7 million euros in the prior quarter but worse compared to an income of 14 million euros in the prior year.
The company projects 428 million MAUs in the second quarter, while the total revenue is projected at 2.80 billion euros. The gross margin is expected at 25.2%, with an operating loss of 197 million euros.
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