Netflix shares rise 1.29% intraday after solid Q2 results and revenue target raise.

Netflix, Inc. rose 1.29% in intraday trading. The company reported solid Q2 results with revenue up 16% to $11.08bn and EPS of $7.19, exceeding consensus estimates. Netflix also raised its revenue target for the current fiscal year, indicating strong financial performance. However, the stock fell sharply (-5%) on Friday due to profit-taking after the publication of better-than-expected quarterly results and a widely anticipated raising of annual targets, which did not result in investors pushing the stock to new all-time highs.