FILE - Awards, including an Emmy, are displayed at Netflix headquarters Los Gatos, Calif. on March 7, 2024. Netflix reports earnings on Thursday, July 18, 2024. during the first half of 2022 prompted a change in direction.Netflix added 8 million subscribers during the April-June period, marking a 37% increase over the same time last year.
And Netflix is still financially thriving. The company’s profit in its latest quarter rose 44% from last year to $2.15 billion, or $4.88 per share — a figure that exceeded the estimates of analysts polled by FactSet Research. Revenue climbed 17% from last year to $9.56 billion, also eclipsing analysts’ projections.
The performance evidently still wasn't robust enough to propel Netflix's high-flying stock, which has surged by 32% so far this year. The shares shed 3% in extended trading after the latest numbers came out. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.