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Netflix Stock Rallying After Reporting Latest Earnings Results

July 3, 2023
in Trade Tube
Reading Time: 1 min read
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Keep an eye on shares of Netflix (NFLX) in Thursday’s trading session. The video streaming giant released its second-quarter financial results after the closing bell Wednesday. For the second quarter, the company posted a profit of 6 cents a share on revenue of $1.64 billion. Wall Street had expected the company to report second quarter earnings of 4 cents per share on revenue of $1.65 billion, according to analysts polled by Thomson Reuters. In the same quarter of last year, Netflix earned 16 cents a share on revenue of $1.34 billion. The company reported 3.28 million net new subscriber additions, higher compared to the 2.46 million net additions analysts were expecting, according to FactSet. Subscriber additions came in stronger than expected, with about two-thirds of the additions coming from international subscribers. TheStreet’s Kurumi Fukushima reports in New York.

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