Spotify Technology reported record monthly active users of 751 million for the fourth quarter of 2025. This total represents an 11% increase over the previous year. The company added 38 million users in the quarter, exceeding its own guidance of 32 million and analyst expectations. Management attributed the growth to the year-end Wrapped promotional campaign and enhancements to the free mobile tier.
Premium subscribers grew 10% year-over-year to 290 million. Gross margins reached a record high of 33.1% during the period. Operating income climbed to €701 million. Company shares rose significantly in premarket trading following the announcement.