Netflix Reports Q2 Results, Shares Up 7%
<p><a href='https://financialmodelingprep.com/financial-summary/NFLX'>Netflix, Inc. (NASDAQ:NFLX)</a> shares were trading more than 7% higher pre-market following the company’s reported Q2 results, with EPS coming in at $3.20, better than the Street estimate of $2.96. Revenue was $7.97 billion, compared to the Street estimate of $8.03 billion. The company lost 0.97 million net paid subscribers, compared to the guidance of 2 million loss.</p>
<p>The company expects Q3 revenue of $7.84 billion and EPS of $2.14, both below the Street estimates of $8.08 billion and $2.77, respectively. Q3 revenue guidance is based on the global net paid adds of 1 million, compared to the Street estimate of 2.09 million. </p>
<p>While Q3 subscriber guidance was lower than the Street estimates, analysts at Wedbush believe results were better than widely feared, and the upside of one million in Q2 implies a similar upside in Q3. Most importantly, the company guided to a 2022 free cash flow of roughly $1 billion, with annual positive free cash flow going forward, and substantial free cash flow growth in 2023 vs. 2022.</p>

NASDAQ:NFLX)