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

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.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Netflix Q2 Earnings Preview: Analysts Expect Windfall From Password-Sharing CrackdownNetflix’s move to start broadly monetizing password-sharing users — after years of tacitly allowing the practice with a wink and a nod — could help the streamer beat Q2 2023 earnings targets.
Source: Variety - 🏆 108. / 63 Read more »

Netflix Q2 earnings: Streamer is riding high despite actors' strikeEvery Hollywood company is having a terrible summer except Netflix, whose global content machine will help it ride out the actors' strike: 'They just aren't worried'
Source: BusinessInsider - 🏆 729. / 51 Read more »

Tesla reports earnings after the bell WednesdayInvestors will likely be looking for information on how Tesla's price cuts affected margins in the quarter.
Source: CNBC - 🏆 12. / 72 Read more »

Netflix is about to report earnings — here's what to expectNetflix will report second-quarter earnings after the bell. Here's what to expect.
Source: CNBC - 🏆 12. / 72 Read more »