Consensus revenue for Q1 2026 is pegged at $5.37 billion (+21.7% YoY), while EPS is expected to reach $3.72, reflecting robust bottom-line growth. The stock currently trades around $515.94, significantly below the average analyst price target of $692.14.
Investors are laser-focused on Total Monthly Active Users (MAUs), which are estimated to reach 759.8 million as Spotify attempts to maintain momentum after a blockbuster 2025. This report provides the first major performance update under the leadership of co-CEOs Gustav Söderström and Alex Norström. Markets are also watching for sustained gross margin strength, which reached a record 33.1% in the prior quarter.