Netflix's Q2 Results Showcase The Strength Of Its Leadership In Streaming
Netflix's Q2 Results Showcase The Strength Of Its Leadership In Streaming
Last Thursday, Netflix Inc (NASDAQ:NFLX) reported its second quarter financials, reflecting strong growth in advertising and increase in global subscribers. While the Walt Disney Company (NYSE:DIS) and Warner Bros Discovery Inc (NASDAQ:WBD) are about to launch their streaming bundle, Netflix is staying out of any combinations with its rivals as it succeeded to remain a "go-to" streaming destination for users.
上周四,Netflix股份有限公司(NASDAQ:NFLX)公布了其第二季度财务报表,反映了广告强劲增长和全球订阅用户增加。而华特迪士尼公司(NYSE:DIS)和Warner Bros Discovery Inc(NASDAQ:WBD)也即将推出其流媒体捆绑计划,Netflix将不会与其竞争对手合作,并成功将其保持为用户的“首选”流媒体目的地。
Second Quarter Highlights
二季度亮点
For the second quarter ended on June 30th, Netflix reported revenue grew about 17% YoY to $9.56 billion, surpassing LSEG's estimate of 9.53 billion, fueled by the boost in average paid memberships.
Netflix第二季度截至6月30日的营收同比增长约17%,达到956亿美元,超过LSEG的估计(953亿美元),由于付费会员数量的提高而推动。
During the April 1st to June 30th quarter, Netflix gained 8.05 million net paid customers, which translates to YoY growth of 16.5% YoY as it reached a global total of nearly 278 million subscribers. As of 2025, Netflix will no longer reveal such figures as it aims to focus on revenue and operating margin as primary financial metrics, along with engagement in terms of time spent as the best proxy for evaluating customer satisfaction.
在4月1日至6月30日的季度中,Netflix获得了805万个净付费客户,这相当于同比增长16.5%,使其全球订阅用户总数近2.78亿。截至2025年,Netflix将不再披露此类数字,因为它旨在将营收和营业利润率作为主要财务指标,并将使用消费者消费时间的参考度作为评估客户满意度的最佳代理。
Netflix earned a net income of $2.15 billion, or $4.88 per share, which is a significant rise from last year's comparable quarter when it earned $1.49 billion, or $3.29 per share. Earnings per share of $4.88 surpassed LSEG's consensus estimate of $4.74 per share.
Netflix获得了21.5亿美元的净利润,每股收益为4.88美元,这比去年同期的14.9亿美元或每股收益3.29美元有了显着的增长。每股收益4.88美元超过了LSEG的共识估计每股收益4.74美元。
Guidance
指导
As for the third quarter, Netflix guided for revenue of $9.73 billion, which is below Wall Street's consensus estimates of $9.83 billion.
至于第三季度,Netflix指导营收为973亿美元,低于华尔街的共识估计(983亿美元)。
However, it did increase its full-year revenue guidance as it expects growth of 14% to 15%, compared with previous guidance range between 13% to 15%. Netflix also expects full-year operating margins to grow from previously reported 25% to 26%.
但是,它提高了全年营收指导范围,预计增长14%至15%,而之前的指导范围在13%至15%之间。 Netflix还预计,全年营业利润率将从此前报告的25%增长到26%。
Numbers never tell the whole story.
数字永远不能完全说明问题。
While it remains on track to achieve its subscriber goals for 2025, Netflix is shifting its focus towards monetizing its ad inventory. As it continues to work on scaling its ad-supporter subscriber base, Netflix believes it will further increase its ad-tier memberships in 2026 and beyond. Co-CEOs Greg Peters and Ted Sarandos also spoke of evolving use of gen-AI in what seems to be a deeper way compared to prior earnings calls. Sarandos also emphasized that AI will merely serve as a tool to serve creators tell better stories and not replace them, while helping users find the content they love. But when it comes to specific plans, Netflix is keeping its cards close to the chest which shouldn't come as a surprise considering that rivals like Disney are working on their streaming platforms in an effort to catch up. Five years since its streaming debut, and even the world's biggest entertainment company like Disney still didn't figure out streaming entirely. While Disney continues trying to figure out Netflix's winning formula, Netflix remains the industry's gold standard.
虽然Netflix仍在朝着2025年实现其订户目标的路上前进,但它正将重心转向利用其广告库存。随着继续努力扩大其支持广告的订户基础,Netflix相信它将在2026年及以后进一步增加其广告会员数量。董事总经理Greg Peters和Ted Sarandos也谈到了对gen-AI的使用方式,其似乎比以前的收益电话更深入。 Sarandos也强调,AI将仅作为帮助创作者讲述更好故事和帮助用户找到所喜欢内容的工具,而不是取代他们。但是,谈到具体计划时,Netflix仍然保守。这不应该令人惊讶,因为像迪士尼这样的竞争对手正在努力研发他们的流媒体平台以跟上潮流。从其流媒体首次亮相至今已有五年,连世界上最大的娱乐公司——迪士尼,仍然没有完全搞清楚流媒体。而Netflix继续保持行业的黄金标准。
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