The streaming company missed revenue expectations and provided light 2019 guidance.
Spotify, however, was profitable with operating income, net income and free cash flow being positive for the first time in the company's history. The company reported earnings of €442 million euro ($503.4 million), €0.36 a share, which topped analysts' estimates of a loss of €0.16 a share.
The bad news, however, was that while revenue jumped 30% to €1.495 billion, Wall Street was looking for revenue of €1.501 billion, reported TheStreet's Tony Owusu.
The company also announced that it acquired two podcast companies: Gimlet Media and Anchor.
So, what does that mean for Spotify? Here's what Jim Cramer thinks after his interview with CEO Daniel Ek.
Cramer reiterated that he is bullish on the push into podcasts and that Spotify is one of the subscriptions that he has where he doesn't think about the price. He also said that he was disappointed by the selling of Spotify.
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