Netflix reported second quarter earnings yesterday that initially sent the stock six per cent lower in after-hours trading after the streaming giant's revenue outlook missed Wall Street's expectations for the current quarter.
Shares recovered somewhat in today's trading session, with shares hovering near the flatline as investors digested another eight million-plus subscriber gain and a beat on both the top and bottom lines.
Revenue hit $9.56 billion in quarter two, an increase of 16.8 per cent compared with the same period last year, as the streamer continued to lean into top-line initiatives like its crackdown on password sharing and ad-supported tier, in addition to last year's price hikes on certain subscription plans.
Bloomberg reported that analysts were expecting $9.53 billion in revenue.
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