Also Read: Ted Sarandos Named Co-CEO at NetflixThe stock drop came after the company’s earning per share of $1.59 came up short of analyst projections of $1.81 EPS.
Netflix posted $6.15 billion in revenue for Q2, surpassing analyst estimates of $6.08 billion; sales increased 25% year-over-year.Netflix, in its letter to shareholders, said its seen record-setting subscriber growth during the first half of 2020 but warned it doesn’t expect that trend to continue during the third and fourth quarters.“We live in uncertain times with restrictions on what we can do socially and many people are turning to entertainment for relaxation, connection, comfort and stimulation.
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