Netflix Outdoes Expectations Again, Adding 8M Subscribers In Q2
deadline.comNetflix added 8 million subscribers in the second quarter, delivering its latest upside surprise to Wall Street, though the company’s stock pulled back on weaker guidance for future revenue.
Revenue of $9.559 billion and earnings per share came in just ahead of Wall Street analysts’ consensus expectations. Subscriber additions nearly doubled estimates of a gain of 4.7 million, which would have represented a dip from the 5.9 million tacked on in Q2 of 2023.
The company said revenue would rise 14% in the third quarter ending September 30, with a lower rate of subscriber growth than the third quarter of 2023, which included the first full-quarter hit from paid password sharing.
Average revenue per subscriber, meanwhile, will come in flat in the next quarter, due to what the company described as “ongoing F/X headwinds and plan and country mix.” The results reflect another active stretch for the leader in the s reaming business.
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