Spotify has transformed from a great product into a great business and stock, Jim Cramer says

Audio streaming giant Spotify has proven to be a "great business," and it's easy to see why it's become a strong-performing stock, too, CNBC's Jim Cramer said Tuesday. Shares of Spotify surged 11% Tuesday after the company's second-quarter earnings report beat Wall Street expectations. Spotify also impressed investors with better-than-anticipated premium subscriptions and operating margins, which also are expected to expand in the current quarter.

In June, Spotify introduced new subscription plans including a cheaper "Basic Tier" and announced price hikes in several key markets including the U.S. Notably, though, management said the company is seeing less churn — an industry term for the rate at which users cancel a service over a period — in response to this price increase compared with its prior round last year . "It made me think they could have put through an even bigger price increase," Cramer said.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Jim Cramer gives a tactical look at the market rotation out of tech stocksCNBC's Jim Cramer reminded investors of his classic adage: Keep a diverse portfolio.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »

Jim Cramer's top 10 things to watch in the stock market WednesdayWall Street is headed for a lower open Wednesday, a day after the S&P 500 and Dow closed at record highs.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »

Jim Cramer's top 10 things to watch in the stock market ThursdayNasdaq futures rose Thursday after the tech-heavy Nasdaq Composite posted its worst day since 2022.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »