Netflix Reports Q2 2024 Earnings Surge: 8 Million New Subscribers, $9.56 Billion Revenue

Friday, 19 July 2024Netflix headquarters, California, USA United States of America

8 million new subscribers added in Q2 2024

Content slate performed well with hits like Bridgerton attracting a large audience

Netflix increased full-year revenue growth projection to 14%-15%

Netflix reported $9.56 billion revenue in Q2 2024

Netflix won streaming rights to two NFL games for Christmas Day as part of a three-season deal

Page sharing had a positive impact on growth

Netflix, the leading streaming platform, reported strong earnings for Q2 2024. The company added over 8 million new subscribers and saw revenue growth of 16.8% compared to the same period last year, reaching $9.56 billion.

Three key factors contributed to this success: Netflix's content slate performed well, with hit shows like Bridgerton attracting a large new audience; page sharing had a positive impact on growth; and improvements in the service translated into business value.

Despite missing Wall Street's revenue outlook for the current quarter, Netflix increased its full-year 2024 revenue growth projection to 14%-15%, up from the prior 13%-15%. Additionally, Netflix won streaming rights to two NFL games for Christmas Day as part of a three-season deal.

Netflix's earnings surge can be attributed to its ability to consistently deliver high-quality content that resonates with viewers. The company continues to invest in producing original shows and movies, ensuring a steady stream of engaging content for its subscribers.

Confidence

100%

No Doubts Found At Time Of Publication

Sources

92% The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as: (Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20 A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand Netflix earnings surge as hit shows attract big new audience Financial Times Friday, 19 July 2024 01:57 Unique Points Netflix's earnings have surged Hit shows on Netflix have attracted a large new audience Accuracy No Contradictions at Time Of Publication Deception (100%) None Found At Time Of Publication Fallacies (100%) None Found At Time Of Publication Bias (100%) None Found At Time Of Publication Site Conflicts Of Interest (100%) None Found At Time Of Publication Author Conflicts Of Interest (0%) None Found At Time Of Publication
97% The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as: (Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20 A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand Netflix adds 8 million subscribers, disappoints on revenue outlook Yahoo Finance Alexandra Canal Friday, 19 July 2024 02:00 Unique Points Netflix reported its second quarter earnings, initially causing the stock to drop 6% in after-hours trading due to missed revenue outlook for the current quarter. Netflix increased its full-year 2024 revenue growth projection to 14%-15%, up from the prior 13%-15%. Netflix won streaming rights to two NFL games for Christmas Day as part of a three-season deal. Accuracy No Contradictions at Time Of Publication Deception (100%) None Found At Time Of Publication Fallacies (90%) The article contains an appeal to authority when it reports the analysts' expectations for Netflix's revenue and EPS. However, no formal or dichotomous fallacies were found in the text. ][Netflix] guided to third quarter revenue of $9.73 billion, a miss compared to consensus estimates of $9.83 billion.[// Bias (100%) None Found At Time Of Publication Site Conflicts Of Interest (100%) None Found At Time Of Publication Author Conflicts Of Interest (100%) None Found At Time Of Publication
100% The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as: (Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20 A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand Netflix (NFLX) Q2 2024 Earnings Call Transcript The Motley Fool Motley Fool Friday, 19 July 2024 00:45 Unique Points Three key factors that drove member growth were: strong performance of content slate, positive impact from page sharing, and improvements in the service translating into business value. Netflix had strong performance in Q2 2024 with revenue growth, member growth, and profit growth. Accuracy No Contradictions at Time Of Publication Deception (100%) None Found At Time Of Publication Fallacies (100%) None Found At Time Of Publication Bias (100%) None Found At Time Of Publication Site Conflicts Of Interest (100%) None Found At Time Of Publication Author Conflicts Of Interest (100%) None Found At Time Of Publication