Netflix reported stronger than expected second-quarter results Thursday, with profit jumping 45 per cent year-over-year as the streaming giant benefited from subscription price increases and a growing advertising business.
Revenue climbed 16 per cent to $11.1 billion in the quarter ended June 30, beating analyst estimates and the company鈥檚 own guidance, while net profit surged to $3.1 billion.
The company raised its full-year revenue forecast, noting that it expects revenue to be between $44.8 billion and $45.2 billion in 2025, up from a range of $43.5 billion to $44.5 billion.
Netflix highlighted strong performance from its content offers in the quarter, with major hits including the third season of 鈥楽quid Game,鈥� which drew 122 million views.
It 鈥榟as already become our sixth biggest season of any series in our history, with just a few weeks of viewing so far,鈥� the company said in a statement.
