Netflix is one of the largest media service providers out there, and the company has just released its financial results for the second quarter of this year. In its financial statement, the company has reported a revenue of $3.91 billion, which is actually lower than expected, as analysts were expecting a revenue of $3.94 billion to be reported by the company. Compared to a year ago, however, this is an improvement, as Netflix reported a revenue of $2.79 billion for Q2 2017.
Now, in terms of subscribers, the company added 5.1 million subscribers in the second quarter of this year, 670,000 in the US and 4.47 million internationally. That being said, analysts were expecting Netflix to add 6.3 million subscribers, 1.2 million in the US and 5.1 million internationally, so the company fell short in that regard. Interestingly enough, Netflix added fewer subscribers in Q2 this year than it did last year, as the company gained 5.2 million subscribers in the second quarter of 2017. As far as earnings per share are concerned, Netflix reported 85 cents per share for Q2 this year, while analysts were looking for 79.4 cents a share. That being said, this is a noticeable improvement compared to the same period last year, as in Q2 2017 Netflix earned 15 cents a share.
Now, as far as the third quarter of this year is concerned, Netflix is expecting a revenue of $3.99 billion, while analysts projected a $4.13 billion revenue for the company. The company is expecting to add 5 million subscribers, while analysts are expecting that number to be closer to 6 million, 5.93 million, to be exact. As far as earnings per share are concerned, Netflix is expecting 68 cents per share, while analysts forecasted 72 cents per share. Netflix did grow in the second quarter of this year quite a bit, though if you’re looking at analysts’ expectations, the company fell short in some ways. It remains to be seen what will happen in the third quarter of the year, in other words, will the company meet its expectations.