The post Netflix Shares Jump 8% After Less-Than-Expected Q2 Subscribers Loss appeared first on theprimarymarket.com.
]]>While Netflix missed on revenue, raking in $7.97 billion versus $8.05 billion expected, it reported $3.20 in adjusted earnings per share (EPS) compared to $2.98 expected. However, the thing that probably benefited the company’s shares the most was the lower-than-expected loss of subscribers. It was expected that the streamer would lose around two million customers; the number came at a sustainable 970,000.
Netflix stock closed at $201.63 on Tuesday, which already represented a gain of 5.61% compared to the day before. But after the Q2 made the rounds, Netflix shares jumped another 8 percent in extended trading to reach a figure of $218.60 per share. This is the highest they have been since late April.
Netflix already saw some positives last week when it unveiled a partnership with Microsoft for its ad-supported plan. The company is expected to introduce this subscription option later in 2023 as a way to attract more subscribers with a lower price and boost its revenue.
The post Netflix Shares Jump 8% After Less-Than-Expected Q2 Subscribers Loss appeared first on theprimarymarket.com.
]]>The post Netflix Shares Jump 8% After Less-Than-Expected Q2 Subscribers Loss appeared first on theprimarymarket.com.
]]>While Netflix missed on revenue, raking in $7.97 billion versus $8.05 billion expected, it reported $3.20 in adjusted earnings per share (EPS) compared to $2.98 expected. However, the thing that probably benefited the company’s shares the most was the lower-than-expected loss of subscribers. It was expected that the streamer would lose around two million customers; the number came at a sustainable 970,000.
Netflix stock closed at $201.63 on Tuesday, which already represented a gain of 5.61% compared to the day before. But after the Q2 made the rounds, Netflix shares jumped another 8 percent in extended trading to reach a figure of $218.60 per share. This is the highest they have been since late April.
Netflix already saw some positives last week when it unveiled a partnership with Microsoft for its ad-supported plan. The company is expected to introduce this subscription option later in 2023 as a way to attract more subscribers with a lower price and boost its revenue.
The post Netflix Shares Jump 8% After Less-Than-Expected Q2 Subscribers Loss appeared first on theprimarymarket.com.
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