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Netflix reported better-than-expected Q2 results, giving Wall Street a pleasant surprise and lifting its full-year revenue outlook.
By the numbers:
- Revenue: at $11.8 billion, up 15.9% YoY
- Earnings per share: $7.19 vs $7.08
The deets: Netflix now expects full-year revenue to range between $44.8 billion and $45.2 billion, up from its earlier forecast of $43.5 billion to $44.5 billion.
With revenue hitting $11.8 billion (up nearly 16% YoY) and EPS at $7.19, Netflix didn’t just beat the street, it casually rewrote the script. A weaker dollar, healthy subscriber growth, and rising ad revenues gave the company a much-needed second-quarter boost.
Netflix’s recent surge is powered by ads. After cracking down on password sharing, the company brought a low priced ad tier to market which not only expanded subscriber base, but brought in valuable high margin ad revenues.
