Netflix has surpassed 300 million subscribers and reported strong financial results with a $3.1 billion profit, a 46% increase year-over-year, and $11.08 billion in revenue, a 16% rise. The company raised its revenue forecast, expecting higher subscriber numbers in the second half of the year. Despite exceeding profit expectations, investors showed disappointment over limited guidance for revenue and profit margins. The stock has increased by 43% this year, following the launch of a lower-priced subscription option aimed at reversing a previous downturn in subscribers.
Netflix has reported a 46% increase in profits, reaching $3.1 billion, with revenue climbing 16% to $11.08 billion in the latest quarter.
Management raised its revenue forecast, believing that programming will attract more subscribers in the latter half of the year.
Despite solid financial performance, investors were disappointed by the lack of a more significant boost in full-year revenue and profit margin guidance.
Netflix’s stock has surged 43% this year, reflecting confidence after introducing a lower-priced plan amidst previous subscriber declines.
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