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July 23, 2024

Netflix Surpasses Expectations in Q2 2024: Adds 8.1 million Subscribers

Netflix is one of the world's leading entertainment services with 270 million paid memberships in over 190 countries enjoying TV series, films and games across a wide variety of genres and languages. By: K Dass.

US - In a remarkable performance, Netflix has outpaced Wall Street’s predictions for its second quarter of 2024. The streaming giant added a whopping 8.1 million net paid subscribers, bringing its global base to an impressive 278 million.

Key Highlights

·       Netflix reported revenue of $9.56 billion, marking a 17% increase compared to the same period last year.

·       Net income surged to $2.15 billion, a remarkable 44% growth from the previous year.

·       The company achieved an impressive $4.88 EPS, surpassing the $4.70 expected by analysts.

This stellar performance underscores Netflix’s position as one of the world’s leading entertainment services. With 270 million paid memberships across 190 countries, viewers continue to enjoy a diverse range of TV series, films, and games.

The co-CEOs, Ted Sarandos and Greg Peters, along with CFO Spence Neumann and VP of Finance/IR & Corporate Development Spencer Wang, discussed these results in a live video interview. Investors can find the full details on Netflix’s investor relations website.

As the streaming landscape evolves, Netflix’s ability to consistently exceed expectations remains a testament to its global appeal and innovative content offerings. 

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