Netflix has reported a strong second quarter, adding over 8 million new subscribers and beating analyst predictions.
However, the company tempered its success by issuing cautious guidance on its advertising business, which it expects to take until 2026 to become a major driver of revenue growth.
The company’s subscriber gain were driven by its crackdown on password sharing and the popularity of shows like “Bridgerton,” “Baby Reindeer,” and “The Roast of Tom Brady.”
Despite this success, Netflix warned that subscriber growth would slow in the third quarter compared to the same period last year.
Netflix’s advertising business, which launched in 2023, has yet to prove itself as a significant revenue driver.
The company’s vice president of ad sales, Peter Naylor, is departing, and analysts note that Netflix needs to scale up its advertising business to compete with Amazon, which has made a bigger impact in the ad market.
“Netflix is still the best and most profitable streaming company out there, but…some investors may sell on the generally good news and take profits now while waiting for a possible better re-entry point for the stock,” said Michael Ashley Schulman, chief investment officer at Running Point Capital.
The company reported diluted per-share earnings of $4.88 for the quarter, surpassing consensus forecasts of $4.74.
Revenue reached $9.56 billion, in line with estimates. Netflix shares initially fell but reversed losses to trade up 1% in after-hours trading. The stock has surged nearly a third so far this year.
Boluwatife Enome
Follow us on:
Brazil’s former president Bolsonaro and 36 others have been indicted for allegedly attempting a coup…
Republican David McCormick won Pennsylvania Senate seat as Democratic Sen. Bob Casey concedes after recount…
Trudeau's government has announced plans for temporary tax relief, cheques for Canadians amid rising costs…
Pam Bondi, former Florida attorney general and Trump ally, has been nominated as US attorney…
Canada’s Dawson City’s newly elected council has stalled governance, rejecting oath to King Charles in…
Edo PDP has accused the APC of orchestrating an attack on party secretariat, destroying and…
View Comments
Royal umbrella=20,000
Mama Gold=20,000
Royal stallion=20,000
Rising sun=20,000
Special rice=10,500
Mama Africa=20,000
Elephant Gold=20,000
Caprice =20,000
• Toyota Land Cruiser-N1.5 million
• Toyota Prado N1. 3million
• Toyota Corolla –N750,000-1.9m
• Toyota Camry –N550,000-N1.8 M
• Toyota Avensis – N950,000-N1.7M
• Toyota Yaris – N900,000
• Toyota Venza – N2.8 million
• Toyota RAV4 SUV –N1.2milli
• Toyota Hilus Pickup-N950,000
• Toyota Dyna Truck – N1.3million
• Toyota Hiace Bus – N1.5 million
* Toyota Highlander-N1.2 million
*Toyota Big daddy-N850,000-1.9 m
Honda Civic cars – N850,000
Honda Accord – N950,000
Honda CR-V –N980,000
Honda CR-V –950,000
Honda Pilot – N900,000
*Prices of some Volswagen cars:
golf 1 = 250,000
Golf 2,-N350,000
golf 3,4-400,00-500,000
golf 5 -N550,000
Jetta-N350,000
Passat-N450,000
Lexus RX300-N950,000
Lexus RX330-N1.4 mill
Lexus RX350-N1.8 mill
Lexus GX460-N4.2 mill
Lexus GX470-N5.5 mill
Lexus RX400-# 3.3 mill
Toyota Sienna = 700,000
WE DELIVER TO 36 STATES
YOU CAN CALL THE OFFICE IN CHARGE OR ADD HIM UP ON WHATSAPP O8O 6739 9O9O