Spotify Technology (SPOT) Q2 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure
Key numbers
- Reported EPS
- $2.61
- Estimate
- $2.75
- Surprise
- -5.1%
- Score at report (before → after)
- 5.9 → 5.8/10
Revenue for this quarter isn’t shown: the reported figure hasn’t cleared TrendMatrix’s freshness and sanity checks yet, and consensus revenue isn’t tracked. EPS above is the available figure.
How the report landed
Spotify Technology (SPOT) missed the $2.75 estimate with diluted EPS of $2.61 — a clear 5.1% shortfall. TrendMatrix's engine moved from Buy (Wait) (5.9/10) to Hold at 5.8/10 after the report.
Where TrendMatrix's rating stands now
TrendMatrix currently rates SPOT Sell at 5.6/10.
3 of the last 4 quarters beat the estimate; this quarter's -5.1% surprise compares with a +33.6% four-quarter average. Next scheduled report: 2026-11-03.
What supports the rating
- Strong earnings beat streak (3/4)
- Wide economic moat
What argues against it
- Thin upside margin: 4.1%
- Sector modifier (Communication Services): -0.8
- Reward/Risk 0.4:1 at current price — below 1.5:1 minimum
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $541.38
- Price target
- $565.26
- Stop
- $504.74
- Upside to target
- +4.4%
- Reward-to-risk
- 0.4:1
At 30.3× trailing and 31.2× forward earnings, consensus estimates imply little change in earnings power.
Model outputs from TrendMatrix’s engine as of 2026-09-04 — shown for context, not personalized investment advice.
SPOT at TrendMatrix's latest read
Communication and media names are subscriber-economics stories; engagement and ARPU trends behind the print drive the reaction.
- Industry
- Internet Content & Information
- Market cap
- $115.15B
- P/E (fwd)
- 31.2
- P/E (ttm)
- 30.3
- 52-week range
- $405.00–$745.00
- Off 52-week high
- 27.3%
- RSI (14)
- 67
- Volume vs avg
- 0.66×
- Score today
- 5.6/10