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.

For the current quarter, Netflix is forecasting revenue growth of about 12%. Analysts are expecting revenue to grow by about 13%, to $13 billion.

The Los Gatos, California-based company said its advertising business remains a top priority and it expects to bring in about $3 billion in ad revenue this year.

Original reporting: Texarkana Gazette — read the source article.