Netflix results announced – the stock is up

Netflix Inc. (NFLX) reported its Q2 results after the closing bell in the US on Tuesday. The online streaming service company reported fairly positive results for the quarter, sending the stock price higher in the after-hours trading.

The company reported revenue of $7.97 billion in Q2, narrowly missing analyst estimate of $8.026 billion.

Earnings per share reported at $3.20 per share vs. $2.95 per share expected.

Netlfix lost 970,000 subscribers in the second quarter of 2022, which was below analyst prediction of 2 million.

”Q2 was better-than-expected on membership growth, and foreign exchange was worse-than-expected (stronger US dollar), resulting in 9% revenue growth (13% constant currency). Our challenge and opportunity is to accelerate our revenue and membership growth by continuing to improve our product, content, and marketing as we’ve done for the last 25 years, and to better monetize our big audience. We’re in a position of strength given our $30 billion-plus in revenue, $6 billion in operating profit last year, growing free cash flow and a strong balance sheet,” Netlfix said in a letter to shareholders.

Netflix Inc. (NFLX) chart

Shares of Netflix ended the trading day up by 5.61% at $200.88 per share. The stock price jumped by around 7% in the after-hours trading following the latest results.

Here is how the stock has performed in the past year:

• 1 Month +17.97%
• 3 Month -42.16%
• Year-to-date -66.53%
• 1 Year -62.03%

Netflix price targets

• Rosenblatt $196
• UBS $198
• BMO Capital $395
• Morgan Stanley $220
• Evercore ISI Group $245
• Citigroup $275
• Barclays $170

Netflix Inc. is the 140^th largest company in the world with a market cap of $89.57 billion.

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Sources: Netflix Inc., TradingView, MetaTrader 5, Benzinga, CompaniesMarketCap, StreetAccount