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Netflix Reports Blockbuster Earnings, as Password-Sharing Crackdown Leads to 5.9M New Subscribers

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The company began executing its 'paid sharing' strategy in the U.S. last quarter.

reported a big second quarter, adding 5.9 million new paid subscribers to beat Wall Street expectations and further cement itself as the benchmark company in subscription streaming video.

Netflix reported revenue of $8.2 billion, and net income of $1.5 billion. It now has 238.4 million global paid memberships. Netflix had previously told investors that it expected $8.2 billion in revenue in Q1, and operating income of $1.6 billion. It hit the revenue number but beat on income, hitting $1.8 billion in operating in Q2.

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