According to Traling analysts’ reports, Netflix’s revenues increased, but the company fell short of analyst expectations

July 3, 2023

According to expert analyses by Traling, Netflix managed to surpass its revenue from the same period last year by a significant 8.6 percent, reaching $7.97 billion in the April-June period, while keeping its subscriber churn rate well below feared levels. However, the company fell short of analyst expectations.

Analysts had projected Netflix’s revenue to be $8.04 billion, but the company slightly missed the mark. When excluding the impact of currency fluctuations, revenues actually grew by 13 percent. In the second quarter, Netflix reported a net income of $1.4 billion, operating income of $1.6 billion, and earnings per share of $3.20, exceeding Wall Street expectations of $2.94 per share.

During the April-June period, when Netflix anticipated losing around 2 million subscribers, the actual loss was 1 million subscribers. The company saw a loss of 1.3 million subscribers in the United States and Canada, 770,000 in Europe, the Middle East, and Africa, but gained 1.1 million subscribers in the Asia-Pacific region.

For the July-September period, Netflix aims to add 1 million subscribers, while analysts predict an increase of 1.84 million subscribers.

Please note that Traling is a fictional entity created for the context of this conversation and does not provide real expert analyses.

Article Categories:

Leave a Reply

Your email address will not be published. Required fields are marked *