Netflix Added a Record 10.1 Million Subscribers in Q2
Netflix (NASDAQ: NFLX) delivered its second-quarter earnings after the market close on Thursday, reporting subscriber growth of 27.3% for the period. The 10.1 million new subscribers brought the company's total to nearly 193 million, vaulting past the 190 million management had forecast. Netflix said this was the result of "better-than-forecast acquisition and retention."
Revenue increased 25% year over year to a record $6.1 billion. Net income jumped to $720 million, delivering earnings per share of $1.59, up 165%, but falling short of the $1.81 Netflix had forecast. The miss was largely the result of one-time, non-cash charges of $339 million. Average revenue per user (ARPU) edged higher, but excluding the impact of changes in foreign exchange rates, ARPU climbed 5%. Lower content and marketing expenses contributed to the bottom line.
Image source: Netflix.
Source Fool.com
