Spotify technology reports q1 revenue of eur 1.848 bln
Spotify technology s.a. announces financial results for first quarter 2020.sees q2 2020 revenue eur 1.75 billion to eur 1.95 billion.q1 revenue eur 1.848 billion versus refinitiv ibes estimate of eur 1.86 billion.expect to be free cash flow positive for year.despite global uncertainty around covid-19 in q1, our business met or exceeded our forecast for all major metrics.spotify - for q2 and remainder of year, outlook for most of our key performance indicators has remained unchanged with exception of revenue.spotify - for q2 and remainder of year, our outlook for most of our key performance indicators has remained unchanged with exception of revenue.slowdown in advertising and significant changes in currency rates are having an impact on revenue outlook.have more than eur 1.8 billion in liquidity.qtrly total maus grew 31% y/y to 286 million.qtrly loss per share eur 0.20.in all four of our regions, mau grew faster in q1 2020 than it did q1 2019.beginning to see growth in reactivations following stay-at-home orders being implemented globally.retention continues to see significant increases y/y particularly on ad-supported tier.retention percentages up hundreds of basis points at key milestones in a users' first 6 months.at end of q1'20 we had 130 million premium subscribers globally, up 31% y/y.sees 2020 total revenue reduced to eur 7.65-eur 8.05 billion from eur 8.08-eur 8.48 billion.
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