Netflix (NFLX) has released its Q2 2022 earnings report, detailing the film and television streaming company’s financial performance over the past quarter. It’s here that we learn the company lost 970,000 subscribers during Q2, which is admittedly less than some experts were predicting. The company also provided guidance on the upcoming quarter. Netflix’s Q3 guidance comes in under the estimates from analysts.
Netflix’s (NFLX) Q3 2022 guidance can be found on the second page of the Q2 2022 earnings report, under the Q3 Forecast section. The company is currently predicting $2.14 on earnings-per-share, and a total of $7.84 billion in revenue. However, financial analysts had originally estimated $2.75 earnings-per share and $8.1 billion in revenue.
While the lower-than-expected guidance may seem like bad news, the stock market seemed to be quite happy with the news from the report. Netflix (NFLX) stock was up in after-hours trading, hitting a high of $218.60. It was valued at $201.63 when the markets closed at 4 p.m. ET.
Netflix’s Q3 2022 guidance is lower than expected, and the company gives some interesting reasons why. It directly points to the decrease value in the Euro, and how it’s had an ongoing impact on business. This all of course comes from the company’s Q2 2022 earnings report. Stick with Shacknews for more market news as it relates to technology and entertainment.