CNBC’s Jim Cramer dives into Spotify's disappointing Q2 earnings and his outlook for the stock.

Stockholm

Spotify, the leading global music streaming subscription service, recently reported its second quarter earnings. The company has experienced substantial growth, with its stock rising 138 percent in both 2023 and 2024, and reaching an all-time high of $785. However, following the latest earnings report, Spotify's stock fell by 11.5 percent and remains down nearly 18 percent from its peak, despite some recovery.

The drop in share price has raised questions among investors about whether the decline presents a buying opportunity or reflects deeper concerns about the company's performance. Spotify continues to maintain a strong user base of nearly 700 million, underscoring its significant presence in the music streaming market.

Cramer shuffles through Spotify's Q2 earnings

Well the broader market hovers your all time highs. Not every stock's getting in on the celebration. In fact some of the year's best performers are now well off their highs including many of my favorites. You know what that is. Opportunity takes Spotify. That's the world's most popular music streaming subscription service with the company boasting a user base of nearly seven hundred million strong. Many of you are users. You might even be listening to this episode on Spotify right now. Over the past couple of years the stock's been one of the market's top performers rallying 138 percent in 2023. And then weirdly enough tacking on another 138 percent in 2024. House of Pleasure spot. And by late June Spotify has surged to an all time high of seven hundred and eighty five dollars and was up 75 percent year to date at that point. But even after the stock fell about 10 percent from its highs going into the quarter when Spotify reported last Tuesday morning the darn thing dropped another eleven point five percent. While the stocks recovered a bit since then it's still down almost 18 percent from its highs. So it's worth figuring out if this is a buying opportunity or if there was something genuinely wrong with the quarter. Don't miss a second of Mad Money. Follow at Jim Cramer on X. Have a question. Tweet Kramer. Hashtag mad mentions. Send Jim an email to mad money at CNBC dot com or give us a call at 1 800 7 4 3 CNBC. Miss something. Head to mad money dot CNBC dot com.

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