Netflix Q2 Earnings Highlights: Revenue Beat, EPS Beat, Advertising Revenue 'More Meaningful,' 'Squid Game' Multiplayer Game Coming
Portfolio Pulse from Chris Katje
Netflix reported strong Q2 earnings with revenue and EPS beating estimates. The company saw significant growth in ad-supported memberships and announced a new 'Squid Game' multiplayer game. However, Netflix shares fell 3% in after-hours trading.
July 18, 2024 | 8:27 pm
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Netflix reported Q2 revenue of $9.56 billion and EPS of $4.88, both beating estimates. Ad-supported memberships grew 34% QoQ. The company announced a 'Squid Game' multiplayer game. Shares fell 3% in after-hours trading.
Netflix's strong financial performance and growth in ad-supported memberships are positive indicators. The announcement of a 'Squid Game' multiplayer game adds to future growth potential. However, the 3% drop in after-hours trading suggests some investor concerns, possibly about future subscriber growth.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100