.Friday, July 19, 2024 10:01 AM

Netflix (NASDAQ:NFLX) reported Q3 revenue guidance below Wall Street expectations despite exceeding Q2 forecasts. Q2 earnings were $4.88 per share on revenue of $9.56 billion, surpassing analyst projections. The streaming service added 8 million new users in Q2, well above the estimated 4.8 million, thanks to a strong content lineup.

Netflix’s successful content slate in Q2 included hit series like Bridgerton S3 and popular films like Under Paris. The Roast of Tom Brady attracted the largest live audience to date. The ad-supported tier saw a 34% increase in membership quarter over quarter.

For Q3, Netflix projected revenue of $9.37 billion, falling short of the $9.81 billion forecasted by analysts. However, earnings per share are anticipated to be $5.10, surpassing the estimated $4.74.