12:30 - 20.07.2023

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July 20, Fineko/abc.az. Streaming service Netflix has presented a report on the results of Q2 of 2023.

ABC.AZ reports that the number of subscribers of the platform increased by 5.9 million people up to 238.3 million accounts.

For comparison, last year, following the 2nd quarter, the service missed 970,000 subscribers.

Earnings per share of $3.29 exceeded the consensus forecast of Wall Street analysts of $2.86.

In turn, total revenue was below expectations of $8.6 bn and reached $8.2 bn. The company's free cash in the 2nd quarter amounted to $1.339 bn. A year ago, this figure was equal to $13 million.

Despite the growth in the number of subscribers and revenue, Netflix shares fell by about 4% in the post-trading period. In just the last two months, this indicator has increased by 50%.