Netflix Q2 Earnings: solid content moat and promising developments in advertising business
Friday, Jul 19, 2024 5:00 am ET
NFLX --
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.)