Video streaming giant Netflix, Inc. (NASDAQ: NFLX) is expected to publish its June quarter results today after the closing bell. The market will be closely following the event looking for updates on recent developments like the crackdown on password-sharing.
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.
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