The U.S. streaming giant Netflix revenue rose by 19% year-over-year to $7.3 billion as operating income increased by 36% to $1.8 billion in Q2, according to a report released by Netflix on Tuesday.
- The additional paid memberships in Q2 were highly attributable to the Asia-Pacific (APAC) region. Netflix recorded higher-than-expected Q2 earnings with the quarterly revenues, $734 billion higher than $7.32 billion expected.
- The operating margin of 25.2% increased 3 percentage points compared with last year’s quarter result. The earning per share included a non-cash unrealized loss from FX readjustment.
- The net paid subscriptions were reported at 1.54 million exceeding the 1 million expected by the company. The earnings per share, $2.97 per share missing $3.16 per share expectation.
- Recently, Netflix expanded low-cost mobile-only programs to 78 countries across sub-Saharan Africa and SouthEast Asia.
Netflix confirmed it is entering into the gaming market and observes the sector as the new content category. The company will first focus on mobile video games.
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