Netflix added nearly 6 million new subscribers amid password sharing crackdown.
Netflix added nearly 6 million new subscribers amid password sharing crackdown.
Netflix reported substantial growth in subscribers in the months following its push to stop users from sharing accounts with people outside of their household..
Netflix reported substantial growth in subscribers in the months following its push to stop users from sharing accounts with people outside of their household.
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After all the self righteous whingeing when they did this, and talk of "sailing the high seas", it's refreshing to know it actually did work out for Netflix.
It's a nice headline, but the full results for Netflix did not meet expectations, so the share price fell about 9% overnight.
Compared to the same period last year (Q2 2022), revenue has only grown 3.2% and profit margins are up by only 0.5%. From revenues of $8.2B for the quarter, Netflix made $1.5B in net income (18% profit margins).So, they're making a shitload of money, but not as much money as they hoped?
If you don't make ALL THE MONEY investors don't like it and your company loses value. These days it doesn't matter if you make a profit if it doesn't meet projections. It's all fucking voodoo economics...the only thing that makes a company worth anything is the confidence of the invetors behind it.