Netflix lost fewer subscribers than expected was the company’s main highlight in its earnings call.
The company had warned investors last quarter that it expected to lose about 2 million, but it lost only about 970,000 during the three-month period ended June 30.
According to other data, the company posted earnings of $3.20 per share, while analysts polled by Refinitiv were expecting earnings of $2.94 per share. Revenue came in at $7.97 billion, missing analysts’ expectations of $8.035 billion.
The company told shareholders it expects net additions to reach 1 million in the third quarter, reversing some losses seen in the first half of the year. Analysts had predicted that Netflix in its guidance would talk about growth of about 1.8 million.
Source: Capital
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