Netflix subscriptions jump 8%, revenue climbs as password sharing crackdown takes hold
Netflix subscriptions rose 8% in the second quarter as its revenue climbed year over year.
While Netflix beat earnings estimates, it missed on revenue. The company reported $8.19 billion in revenue.
The company is cracking down on password sharing.
While Netflix beat earnings estimates, it missed on revenue. The company reported $8.19 billion in revenue.
The company is cracking down on password sharing.
Netflix said Wednesday that its quarterly revenue and subscriptions rose, as efforts to curb password sharing took hold.
Here’s what the company reported for the second quarter versus what analysts expected, according to Refinitiv:
Earnings: $3.29 a share vs. $2.86 per share expected
Revenue: $8.19 billion vs $8.30 billion expected
The earnings report comes soon as investors look for more information on the rollout of Netflix’s ad-supported streaming tier and push to boost subscriptions by rooting out account sharing.
Netflix said Wednesday it expects a boost in revenue in the second half of the year as it begins “to see the full benefits of paid sharing plus the steady growth in our ad-supported plan.”
On Wednesday, Netflix confirmed that it removed its “basic” ad-free plan, making its standard plan with ads its cheapest option at $6.99 a month. The standard and premium tiers without commercials cost $15.49 and $19.99, respectively, a month.
$Netflix(NFLX.US$
Here’s what the company reported for the second quarter versus what analysts expected, according to Refinitiv:
Earnings: $3.29 a share vs. $2.86 per share expected
Revenue: $8.19 billion vs $8.30 billion expected
The earnings report comes soon as investors look for more information on the rollout of Netflix’s ad-supported streaming tier and push to boost subscriptions by rooting out account sharing.
Netflix said Wednesday it expects a boost in revenue in the second half of the year as it begins “to see the full benefits of paid sharing plus the steady growth in our ad-supported plan.”
On Wednesday, Netflix confirmed that it removed its “basic” ad-free plan, making its standard plan with ads its cheapest option at $6.99 a month. The standard and premium tiers without commercials cost $15.49 and $19.99, respectively, a month.
$Netflix(NFLX.US$
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Scorched earf : Riiiiight