Briefly: Netflix completed the second quarter of 2021 with greater than 209 million subscribers however missed the mark barely by way of earnings, producing $7.34 billion in income. A Refinitiv survey revealed that analysts had been collectively anticipating $7.32 billion, so not too far off. Earnings per share checked in at $2.97 versus the $3.16 that analysts had been anticipating.
In its letter to shareholders, Netflix mentioned it had 201.18 million subscribers on the finish of the second quarter, a rise of 1.54 million over the 207.64 million it reported for the primary quarter. According to Avenue Account, analysts had been anticipating simply 1.19 million internet subscriber additions.
Netflix mentioned the pandemic has created some “lumpiness” of their membership development, leading to increased development in 2020 and slower development to this point this yr. However, the corporate mentioned it can proceed to give attention to enhancing its service for members and bringing them the most effective tales from all over the world.
Trying forward, Netflix mentioned it’s anticipating to complete the third quarter with 212.68 million subscribers and herald round $7.47 billion in income. In accordance with Avenue Account information, analysts had been anticipating nearer to five.46 million internet subscriber additions for the three-month interval, largely on account of Netflix’s upcoming content material slate.
Netflix’s inventory is down 3.78% on the information as of writing.