Netflix Meets Expectations in Second Quarter | Adweek Netflix Meets Expectations in Second Quarter | Adweek
Advertisement

Netflix Meets Expectations in Second Quarter

CEO reiterates stance on net neutrality

Photo: Courtesy of Netflix

Netflix reported that it met expectations for revenue and earnings per share at $1.34 billion and $1.15, respectively, Business Insider reported.

According to TechCrunch, Netflix actually slightly exceeded analyst expectations for revenue of $1.33 billion while falling just short of the expected $1.16 EPS. The streaming service also exceeded expectations with 36.24 domestic subscribers and 13.8 million international subscribers. Although exact evaluations of Netflix's second-quarter report may vary slightly, it stands in stark contrast to last year's disappointing second quarter.

The second-quarter report follows Netflix's announcement that it surpassed 50 million total subscribers. During its most recent three-quarter period, Netflix saw its "total subscriber base grow by 1.69 million to 50.05 million," according to TechCrunch, including adding 1.12 million international subscribers.

Amidst the second-quarter report, Neflix's CEO Reed Hastings reiterated his stance on net neutrality, according to ZDNet. In a memo to shareholders also signed by CFO David Wells, the company wrote, "Our focus on strong net neutrality, including interconnection, is about preventing large ISPs from holding our joint customers hostage with poor performance to extract payments from us, other Internet content firms, and Internet transit suppliers. ... Our policy goals are for the FCC to not sanctify paid prioritization, and for the DOJ/FCC to block the merger of Comcast/TWC, or at the very least, to require as condition to approving the merger that the combined entity be prevented from charging for interconnection."

Netflix has ambitious plans for the next quarter, "projecting to add 3.69 million more subscribers over the following three-month period for an approximate grand total of 53.74 million globally," according to ZDNet.

Advertisement

Advertisement