Netflix Shares Rewind From 52-Week Highs: Q2 Revenue Miss, Earnings Beat, Subscriber Growth
Portfolio Pulse from Adam Eckert
Netflix, Inc (NASDAQ:NFLX) reported Q2 financial results with a 3% YoY increase in revenue to $8.19 billion, missing the consensus estimate of $8.29 billion. However, the company beat analyst estimates with quarterly earnings of $3.29 per share. The company also reported a significant increase in paid net adds, driven by the company’s paid sharing rollout to more than 100 countries. For Q3, Netflix expects revenue of approximately $8.52 billion and earnings of $3.52 per share. The company's shares were down 3.58% after hours.
July 19, 2023 | 8:24 pm
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Netflix's Q2 revenue missed estimates but earnings beat expectations. The company's shares were down 3.58% after hours.
Netflix's Q2 revenue missed estimates, which is likely to negatively impact investor sentiment and the company's stock price in the short term. However, the company beat earnings estimates, which could offset some of the negative impact. The company's shares were down 3.58% after hours, indicating a negative short-term impact.
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