Netflix reported profits of $2.147 billion in its second fiscal quarter, up 44.3 percent from a year earlier, the world’s largest streaming platform announced Thursday. The figures beat analysts’ estimates, which had forecast profits of around $2.088 billion.
The company had a turnover of 9.559 billion dollars, 16.8% more than in the same period of the previous year and, once again, slightly above the 9.530 billion expected by the market.
In terms of subscribers, Netflix added 8.05 million new customers, bringing its total worldwide subscriber count to 277.65 million. Analysts had expected new subscribers in the second quarter to be just 4.8 million.
Following what it called “strong results”, Netflix has revised its growth forecasts for the year as a whole slightly upwards. The company now estimates a 14% to 15% increase in revenue (previously it forecast 13% to 15%) and an operating margin of 26%, one percentage point more than it previously estimated.
After the results were released, Netflix shares fell 2% in after-hours trading.
Source: www.jornaldenegocios.pt
