Netflix once again saw an upswing from COVID-19 lockdowns, packing over 10.1 million net new streaming subscribers in the second quarter – easily setting a new Q2 record for the company.
The result blows up earlier forecasts for Netflix’s fore.5 million subscribers, although several analysts predicted even greater stagnation. The streamer finished Q220 with 193 million paid members worldwide.
“With restrictions on what we can do socially, we live in uncertain times and are leaning towards many people.
Entertainment for connectivity, connectivity, comfort and excitement, ”the company said in its quarterly shareholder letter.
However, in the second half of 2020, 226 million paid nets were added in the first half of the year, “we expect lower growth in the second half of 2020 than in the previous year,” the company said. “As we navigate this turbulent situation, we focus on our members by improving the quality of our services and bringing new movies and shows to people’s screens.”
Netflix earned. 15 billion per share and net earnings per share of 1.59. Wall Street analysts put the company’s Q2 earnings at an average of $ 6.08 billion and earnings per share of 18 1.18.
More to come.