MXNetflix reported higher earnings for the second quarter, driven by new subscriber growth and price increases, which the company said performed well and met expectations. The company earned $3.4 billion, or 80 cents per share, up 9% compared to the same period last year. Revenue rose 13% to $12.56 billion. However, shares fell sharply after the report, as the company’s forecast for the current quarter fell below Wall Street expectations. Analysts had anticipated earnings of 79 cents per share and revenue of $12.58 billion. Netflix expects revenue growth of around 12% for the current quarter, slightly below analysts’ forecasts of approximately 13% growth to $13 billion. The company emphasized its advertising business and live event offerings, including the Women’s World Cup, while highlighting advancements in AI-driven search features.
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