Netflix: quarterly results up, but short of estimates

(CercleFinance.com) - Last night Netflix reported a 24.
9% increase in revenues in Q2 2020 at 6.148 billion dollars, with the subscriber numbers up 27.2% compared to the same period in 2019.

As a result, the number of paying subscribers to the world's leading video streaming service reached 192.95 million (+10 million over the period). Meanwhile, net income reached 720 million dollars, compared to 271 million a year earlier.

Despite this good news for the company, whose services have attracted new users - notably due to the traffic restrictions relating to Covid-19, adjusted EPS fell short of expectations. As a benchmark for US groups, this reached 1.59 dollar, while analysts were looking for 1.81 dollar.


Copyright (c) 2020 CercleFinance.com. All rights reserved.