7/19/2022, 10:07 PM (Source: TeleTrader)
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Netflix's Q2 revenue rises by 8.6% to $7.97 billion

Netflix Inc. announced Tuesday that its second-quarter fiscal 2022 revenue rose 8.6% to $7.97 billion, below analysts' expectations. However, the company's net income came in at $1.4 billion, while operating income reached $1.6 billion.

Meanwhile, its diluted earnings per share (EPS) increased yearly to $3.20 per share, and global streaming paid memberships grew 5.5% year on year to 220.67 million.

"Our challenge and opportunity is to accelerate our revenue and membership growth by continuing to improve our product, content, and marketing as we've done for the last 25 years, and to better monetize our big audience," the platform noted in the letter to its shareholders.

Following the report's release, the company's shares went up by 7.82% in the after-hours trading.

Baha Breaking News (BBN) / JG