Spotify Technology S.A. (SPOT – Free Report) just released its first quarterly financial report as a public company, posting a loss of €1.01 and revenues of €1.14 billion.

Currently, SPOT is a Zacks Rank #3 (Hold), but that could change based on today’s results. Shares of the company have gained about 11% over the past month, including a 3% gain during regular trading hours today.

The stock is currently down 6.5% to $159.00 per share in after-hours trading shortly after its earnings report was released.

Spotify:

The company posted a loss of €1.01 per share. That was an improvement from a loss of €3.87 per share in the previous quarter and €1.15 per share in the comparable period last year.

Spotify saw revenue figures of €1.139 billion, up 26% year over year. Total revenue improved 37% when adjusting for the negative impact of foreign exchange fluctuations. The company said it finished the quarter with 170 million monthly active users (MAUs) and 75 million Premium users. MAUs were up 30% year over year, while Premium users surged 45%.

Gross margin was 24.9% in the quarter, which was on the high end of the company’s own guidance range. The company saw an operating loss of €41 million—also topping its own expectations.

For the second quarter of fiscal 2018, Spotify is expecting revenue in the range of €1.1 to €1.3 billion, up 10% to 29% year over year. Excluding the impact of forex headwinds, the company expects revenue to improve by 20% to 38%. MAUs are expected to be between 175 and 180 million, while Premium users are expected to reach 79 to 83 million.

Here’s a graph that looks at Spotify’s price performance since its debut:

SPOTIFY TECH SA Price

SPOTIFY TECH SA Price | SPOTIFY TECH SA Quote

Spotify Technology S.A. provides music streaming services. The company offers commercial free music and ad-supported services to subscribers. Spotify Technology S.A. is based in Sweden.

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