Netflix said Thursday its second-quarter profit grew thanks to new membership signups and price increases, which had gone well and as expected.
The company earned $3.4 billion, or 80 cents per share, in the March-June period. That’s up 9% from $3.13 billion, or 72 cents per share, in the same period a year earlier. Revenue grew 13% to $12.56 billion from $11.08 billion.
Analysts, on average, were expecting earnings of 79 cents per share on revenue of $12.58 billion, according to a poll by FactSet. For the current quarter, Netflix is forecasting revenue growth of about 12%. Analysts are expecting revenue to grow by about 13%, to $13 billion.
In February, Netflix walked away from its offer to buy Warner Bros. Discovery’s studio and streaming business. Shares of Netflix fell $5.33, or 7.2%, to $69.02 in after-hours trading.
Original reporting: KTBS 3 (Shreveport) — read the source article.
