We’re entering into the latest season of tech companies reporting on the results of their most recently finished fiscal quarters and Netflix is one of the first up with its Q2 2023 report. Netflix had a few bits of good news to share. It’s seemingly doing well for itself in its subscriber base and it put up a solid earnings-per-share (EPS). Unfortunately, the company wasn’t able to deliver against revenue expectations, falling just short of analyst estimates.
Netflix reported its Q2 2023 earnings results on its investor relations website on July 19, 2023. For revenue, Netflix put up $8.0 billion USD on the quarter. This was short of mean revenue analyst estimates that came in at $8.3 billion. Meanwhile, EPS for Netflix ended up at $3.20 per share. That was up from both analyst estimates, which called for $2.86 per share, and Whisper Number estimates, which came out to $2.89 per share.
Netflix may not have overcome analyst expectations on revenue, but the company’s previous quarter still had some interesting news to show for it. Netflix gained massively on subscribers over the course of Q2 2023, gaining an absolutely stunning 5.89 million subscribers. It’s worth noting that this came on top of the crackdown on password-sharing in the United States, which also rolled out in Q2 2023. Still, it was a big gain for Netflix. Nonetheless, whether that gain remains may be in question with the current writers and actors strike going on.
Netflix’s Q2 2023 was a bit of a mixed bag between the results and current events affecting the company. For more fiscal reporting, stay tuned here at Shacknews as further companies close out their quarters.