As a dedicated gamer and avid Netflix subscriber for years now, I’m always thrilled to see my go-to streaming platform performing well financially. Recently, Netflix (NFLX) reported its Q2 2024 earnings results, which surpassed both revenue and EPS expectations.
With each passing quarter, an increasing number of businesses release their earnings reports. The most recent addition to this list is Netflix (NFLX). Notably, they surpassed financial forecasts in terms of revenue and earnings per share.
On July 18, 2024, Netflix (NFLX) released its second quarter 2024 earnings report. You can access this information on their Investor Relations page. In the report, Netflix announced an earnings per share (EPS) of $4.88 compared to the anticipated $4.74. Although it fell short of the rumored figure of $4.90/share. For revenue, the corporation surpassed expectations with a total of $9.56 billion against the projected $9.53 billion. In their letter to investors, they mentioned the following about revenue expansion:
In the second quarter of this year, we experienced significant growth with a 17% increase in revenue and a higher operating margin of 27%, compared to 22% last year. Our projected revenue growth for the entire year 2024 has been raised to between 14% and 15% (previously forecasted as 13%-15%). Additionally, our anticipated operating margin for the full year is now set at 26%, an increase from our previous prediction of 25%.
In the first quarter of 2024, Netflix generated revenue amounting to $9.37 billion, representing a growth from the earlier period. Yet, the earnings per share (EPS) for this quarter came in at $5.28, which is less than the $5.28 EPS recorded in the preceding quarter.
As a devoted Netflix fan, I’m thrilled to share some exciting updates from the streaming giant. Although there was initial resistance to its password-sharing policy modifications, Netflix has been making great strides over the past few months. The platform now boasts an impressive 269.6 million subscribers in Q1 of 2024!
Netflix surpassed predictions in its second quarter earnings for 2024, making it intriguing to monitor its third quarter results. Stay tuned to our Netflix page for ongoing coverage of the company’s reporting periods and noteworthy updates regarding new shows, films, and gaming initiatives.
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2024-07-18 23:57