Netflix Q2 Earnings: solid content moat and promising developments in advertising business

Thursday post-market, Netflix released Q2 earnings result, beating estimates.

Netflix issued cautious guidance for the third quarter and said its advertising business would not become a primary driver of revenue growth until at least 2026.

The company also renounced plans to completely phase out its cheapest ad-free subscription tier($11.99 per month) for its existing subscribers.  Users have to switch to a new Basic plan priced at $6.99(with ads.) or a Standard plan for $15.49(without ads.)