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

Friday, Jul 19, 2024 5:00 am ET1min read

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.)

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