Spotify (NYSE:SPOT) reported $3.95 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 22.3%. EPS of -$0.39 for the same period compares to -$1.43 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $3.96 billion, representing a surprise of -0.11%. The company delivered an EPS surprise of -387.50%, with the consensus EPS estimate being -$0.08.

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): 602 million versus 600.95 million estimated by five analysts on average.
• Premium Subscribers: 236 million versus the five-analyst average estimate of 234.94 million.
• Ad-Supported MAUs: 379 million versus the four-analyst average estimate of 377.24 million.

Shares of Spotify have returned +13.2% over the past month versus the Zacks S&P 500 composite's +5.3% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.

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