Spotify (SPOT Quick QuoteSPOT - Free Report) reported $4.1 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 18.5%. EPS of $1.43 for the same period compares to -$1.69 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $4.12 billion, representing a surprise of -0.51%. The company delivered an EPS surprise of +32.41%, with the consensus EPS estimate being $1.08.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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): 626 million compared to the 631.28 million average estimate based on four analysts.
• Ad-Supported MAUs: 393 million compared to the 396.68 million average estimate based on four analysts.
• Premium Subscribers: 246 million versus the four-analyst average estimate of 245.25 million.

View all Key Company Metrics for Spotify here>>>

Shares of Spotify have returned -6.2% over the past month versus the Zacks S&P 500 composite's +2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.