SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Netflix exceeded expectations

Netflix exceeded market expectations during the second quarter, shows the streaming giant's interim report.

» Updated: 19 July 2024, 02:01

» Published: 18 July 2024

Netflix exceeded expectations
Photo: Richard Drew/AP/TT

Netflix exceeded market expectations during the second quarter, as shown by the streaming giant's interim report.

The revenue was 9.56 billion dollars, which was higher than the expected 9.53 billion, reports CNBC.

The profit per share exceeded expectations of 4.74 dollars, landing at 4.88.

Netflix reported a record-high number of users on Thursday, with over 277 million. This is far ahead of competitors like Max and Disney+, reports CNN.

Lately, Netflix's share has risen due to efforts to get more users, with a cheaper subscription with ads. The company also wants users who have shared passwords to get their own accounts, which has also affected the number of users.

For other media companies, advertising has also become an increasingly important part of a business model, to increase or achieve profitability for streamed material.

Netflix also announces that the company will phase out the cheapest ad-free subscription in the USA.

Corrected version: In an earlier text, the wrong quarter was stated for the report.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Crisis Expert Becomes Chairman of Northvolt One
1 MIN READ

Crisis Expert Becomes Chairman of Northvolt One

"Minecraft" takes a place in the amusement park
2 MIN READ

"Minecraft" takes a place in the amusement park

He becomes the new chairman of the Building Workers' Union
1 MIN READ

He becomes the new chairman of the Building Workers' Union

Norway opens up for tourist tax
2 MIN READ

Norway opens up for tourist tax

Danish weight loss success enters China
1 MIN READ

Danish weight loss success enters China

Minister pleased with authorities "stepping up"
1 MIN READ

Minister pleased with authorities "stepping up"

Enhanced downturn on the Stockholm Stock Exchange
2 MIN READ

Enhanced downturn on the Stockholm Stock Exchange

Cautious Consumers - a Challenge for Synsam
1 MIN READ

Cautious Consumers - a Challenge for Synsam

Svantesson: The Consumer Has a Great Responsibility
2 MIN READ

Svantesson: The Consumer Has a Great Responsibility

Fake ID apps spread among young people: "Well-made"
2 MIN READ

Fake ID apps spread among young people: "Well-made"

Mostly Upwards on Asian Exchanges
1 MIN READ

Mostly Upwards on Asian Exchanges

Media: Battle over Trump's Finance Minister Post
2 MIN READ

Media: Battle over Trump's Finance Minister Post

Google may be forced to sell Chrome
2 MIN READ

Google may be forced to sell Chrome

Tesla wins on the stock exchange in the USA
1 MIN READ

Tesla wins on the stock exchange in the USA

Internal Criticism: "Trying to Become the Fifth Bourgeois Party"
2 MIN READ

Internal Criticism: "Trying to Become the Fifth Bourgeois Party"

VW: In close contact with Northvolt
1 MIN READ

VW: In close contact with Northvolt

Insider conspiracy investigated – decision on prosecution imminent
2 MIN READ

Insider conspiracy investigated – decision on prosecution imminent

Viaplay's largest owner heading for the stock exchange
1 MIN READ

Viaplay's largest owner heading for the stock exchange

The Gold Price is Expected to Rise Even More
1 MIN READ

The Gold Price is Expected to Rise Even More

Ericsson CEO open to relocating headquarters to the USA
1 MIN READ

Ericsson CEO open to relocating headquarters to the USA