For the quarter ended September 2023, Spotify (SPOT Quick QuoteSPOT - Free Report) reported revenue of $3.65 billion, up 20% over the same period last year. EPS came in at $0.36, compared to -$0.99 in the year-ago quarter.

The reported revenue represents a surprise of +1.23% over the Zacks Consensus Estimate of $3.61 billion. With the consensus EPS estimate being -$0.20, the EPS surprise was +280.00%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Spotify performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Total Monthly Active Users (MAUs): 574 million versus the five-analyst average estimate of 571.61 million.
• Premium Subscribers: 226 million versus the five-analyst average estimate of 224.04 million.
• Ad-Supported MAUs: 361 million versus the four-analyst average estimate of 360.19 million.

View all Key Company Metrics for Spotify here>>>

Shares of Spotify have returned -0.6% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.