Netflix Adds 8.05 Million Subscribers in Q2, Exceeding Expectations
Sales and Earnings Per Share Exceed Expectations
Stock Price Falls in After-Hours Trading
Video streaming company Netflix announced second-quarter earnings that exceeded market expectations.
According to Netflix on the 18th (local time), the number of subscribers in the second quarter of this year increased by 8.05 million worldwide, surpassing the market expectation of a 4.87 million increase. As a result, the total number of subscribers was counted at 277.65 million. The market had expected the total number of subscribers to be 274.40 million.
Second-quarter revenue recorded $9.56 billion, and earnings per share (EPS) were $4.88, exceeding market expectations of $9.53 billion and $4.74, respectively.
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Despite the earnings announcement surpassing market expectations, Netflix's stock price fell 0.43% in after-hours trading as of 5:01 PM.
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