The results announced painted a portrait of a company still gathering momentum after a jarring decrease in subscribers during the first half of 2022 prompted a change in direction.
Netflix added 8 million subscribers during the April-June period, marking a 37% increase over the same time last year. It was the sixth-consecutive quarter of that Netflix’s subscriber gains have increased from the previous year, a trend triggered by the 2022 downturn that served as a wake-up call for the Los Gatos, California, company.
And Netflix is still financially thriving. The company’s profit in its latest quarter rose 44% from last year to $2.15 billion, or $4.88 per share — a figure that exceeded the estimates of analysts polled by FactSet Research. Revenue climbed 17% from last year to $9.56 billion, also eclipsing analysts’ projections.
But management predicted its revenue for the July-September period would rise at a slightly slower pace of 14% from the same time last year, lagging the 18% growth that analysts had been anticipating.
This story is from the July 26, 2024 edition of AppleMagazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the July 26, 2024 edition of AppleMagazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
THIS FALL.HOLLYWOOD TRIES TO BALANCE BOX OFFICE WITH THE BALLOT BOX
Three weeks after the U.S. presidential election in November, Ridley Scott will present his latest big-screen opus.
VOLVO BECOMES LATEST CARMAKER TO SCALE BACK ELECTRIC AMBITIONS, EASES GOAL TO AT LEAST 90% BY 2030
Sweden-based Volvo Cars has eased off on its pledge to stop selling cars with internal combustion motors by 2030, saying slow rollout of places to charge up and withdrawal of purchase incentives will leave room for a few cars that still need fossil fuels.
ANOTHER NEW JERSEY OFFSHORE WIND PROJECT RUNS INTO TURBULENCE AS LEADING LIGHT SEEKS PAUSE
Another offshore wind project in New Jersey is encountering turbulence.
ON THE FIRST DAY WITHOUT X. MANY BRAZILIANS SAY THEY FEEL DISCONNECTED FROM THE WORLD
The blocking of social media platform X in Brazil divided users and politicians over the legitimacy of the ban, and many Brazilians had difficulty and doubts over navigating other social media in its absence.
UK COMPETITION WATCHDOG CLEARS MICROSOFT'S HIRING OF AI STARTUP'S CORE STAFF
British regulators on Wednesday cleared Microsoft’s hiring of key staff from startup Inflection AI, saying the deal wouldn’t stifle competition in the country’s artificial intelligence market.
EVEN DOLLAR STORE CHAINS ARE SEEING A PULLBACK IN SPENDING AS HIGHER PRICES SQUEEZE MORE CONSUMERS
Dollar Tree is slashing its full-year earnings and sales forecasts as its customers continue to struggle with higher prices and spend less.
ESPN NETWORKS, ABC AND DISNEY CHANNELS GO DARK ON DIRECTV ON A BUSY NIGHT FOR SPORTS
ESPN has gone off the air on a major carrier for the second straight year during the U.S. Open tennis tournament and in the midst of the first full weekend of college football.
HYUNDAI UNVEILS 2025 ELECTRIC SUVS AIMING FOR BROADER APPEAL WITH IMPROVED RANGE, CHARGING OPTIONS
Despite slowing U.S. electric vehicle sales, Hyundai this week rolled out the 2025 versions of its Ioniq 5 electric SUV with improved battery range and charging aimed at broadening the appeal of vehicles to be built at a massive new Georgia factory.
CALIFORNIA LAWMAKERS APPROVE LEGISLATION TO BAN DEEPFAKES, PROTECT WORKERS AND REGULATE AI
California lawmakers approved a host of proposals this week aiming to regulate the artificial intelligence industry, combat deepfakes and protect workers from exploitation by the rapidly evolving technology.
SPORTS BOATS SET OUT ON A VOYAGE TO ELECTRIFY THE WATERS IN THE SAME WAY TESLA ELECTRIFIED THE ROADS
Grant Jeide looked like another dude riding the rollicking waves left in the wake of a 23-foot (7-meter) boat ripping through the water at speeds of up to 40 miles per hour on a river in Northern California’s Delta earlier this summer.