Netflix, Inc. (NASDAQ: NFLX) Tuesday said its subscriber base expanded at a slightly faster pace in the second quarter of 2021. Earnings and revenues of the streaming giant increased year-over-year. The bottom line, however, missed the estimates.
At the end of the second quarter, the company had 209.18 million paid subscribers, which is up 8.4% from last year. Revenues climbed 19.4% annually to $7.34 billion and slightly exceeded Wall Street’s projection.
Net income came in at $1.35 billion or $2.97 per share in the second quarter, up from $720 million or $1.59 per share recorded in the same period of 2020. Market watchers had forecast stronger growth for the latest quarter.
Shares of the company dropped during Tuesday’s extended trading soon after the announcement, after closing the regular session lower.
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