12:59 PM EDT, 04/29/2025 (MT Newswires) -- Spotify Technology ( SPOT ) on Tuesday outlined a downbeat second-quarter revenue guidance after its first-quarter top- and bottom-line results fell short of Wall Street's views, sending its shares lower.

For the ongoing quarter, the audio streaming company is projecting revenue of 4.3 billion euros ($4.9 billion). Analysts polled by FactSet are looking for 4.37 billion euros.

Spotify ( SPOT ) expects to add roughly 11 million net new monthly active users, or MAUs, in the second quarter, bringing the total to 689 million. Premium subscribers are anticipated to increase by about 5 million to 273 million. The Street is looking for 694.6 million and 271.9 million, respectively.

Spotify ( SPOT ) is "faring better than most" amid elevated macroeconomic uncertainty globally, Chief Executive Daniel Ek said on an earnings conference call, according to a FactSet transcript. However, "if something truly extreme happens, we may be impacted too," Ek said.

First-quarter earnings rose to 1.07 euros a share from 0.97 euros a year earlier, while revenue grew 15% to 4.19 billion euros. The results, however, lagged the Street's views for 2.19 euros and 4.20 billion euros, respectively.

The company's US-listed shares were down 4.4% in Tuesday afternoon trade. For the year so far, the stock is up 27%.

Earlier this month, US President Donald Trump announced sweeping new tariffs on imports, including from China. Trump later declared a 90-day pause certain duties for non-retaliating countries. However, Washington and Beijing have been in a deadlock over tariffs.

Spotify's ( SPOT ) first-quarter premium revenue grew 16% year over year to 3.77 billion euros, while ad-supported sales climbed 8% to 419 million euros. MAUs rose 10% to 678 million, below the 679.1 million modeled by the Street. Premium subscribers advanced 12% to 268 million, exceeding the 265.1 million consensus.

"The short term may bring some noise, but we remain confident in the long-term story, and the direction we're heading in feels clearer than ever," Ek told analysts.

Price: 573.63, Change: -24.11, Percent Change: -4.03