After reporting mixed first-quarter results, the company’s profit is estimated to have declined to $2.86 per share in Q2 from $3.2 per share in the corresponding period last year. The consensus is slightly below the guidance issued by the management earlier. Market watchers predict revenues of $8.3 billion for the second quarter, which is up 4% from the prior-year period.
In the first three months of 2023, Netflix’s paid streaming membership rose to 232.5 million, continuing the recent uptrend. First-quarter revenues increased modestly to $8.16 billion, while earnings declined 18% year-over-year to $2.88 per share.