Netflix shares jump as Q2 subscribers beat estimates. Reported Loss of 970,000 versus loss of 2 million users expected

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by predictany007

Netflix (NFLX) reported its fiscal second quarter earnings on Tuesday after market close as the company battles ongoing inflationary pressures, increased competition, and an uptick in subscriber churn.

The streaming giant’s Q2 subscriber numbers showed a narrower loss than expected, causing shares to surge more than 8% in after-hours trading. Revenue and adjusted earnings per share were mixed amid the broader subscriber slowdown, in addition to increased pressures from foreign exchange with the dollar holding strong relative to other currencies.

Here are Netflix’s second quarter results compared to Wall Street’s consensus estimates, as compiled by Bloomberg:

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Revenue: $7.97 billion versus $8.05 billion expected

Adj. earnings per share (EPS): $3.20 versus $2.98 expected

Subscribers: Loss of 970,000 versus loss of 2 million users expected

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