Netflix on Thursday touted its strong business growth in the second quarter, as its subscriber count grew by 8.05 million to about 278 million in the period. Revenue was up 17% to nearly $9.6 billion in the quarter, the Los Gatos, Calif., streamer reported. Net income was $2.1 billion, compared with $1.49 billion in the same period of 2023. The company beat Wall Street’s estimates on revenue, earnings and subscriber additions.
The shares fell about 2% in after-hours trading. “If we execute well — better stories, easier discovery and more fandom — while also establishing ourselves in newer areas like live, games and advertising, we believe that we have a lot more room to grow,” Netflix said in a letter to shareholders on Thursday.
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