Global internet television network Netflix’s subscriber base grew by approximately 5.9 million people in the second quarter of 2023.
Netflix announced its balance sheet for the second quarter of this year.
Accordingly, the company’s revenue in the second quarter of the year increased by 3 percent compared to the same period of the previous year, reaching $ 8.2 billion. The firm’s revenue was recorded as $7.9 billion in the April-June period last year.
The company’s net profit increased by 3 percent in the second quarter compared to the same period of the previous year, reaching $ 1.5 billion. Netflix’s net profit in the second quarter of last year was $ 1.4 billion.
The firm’s earnings per share also rose from $3.20 to $3.29 during the same period.
Netflix’s subscribers also increased by 5.9 million people in the second quarter of the year. The company’s worldwide subscribers reached 238.4 million, an increase of 8 percent year on year.
Revenue growth expected in the second half
On the other hand, Netflix reminded that it started the paid password sharing application in more than 100 countries where more than 80 percent of its revenue is obtained in May, and noted that the revenue in each region increased compared to the pre-application and the number of registrations was higher than the cancellations.
Noting that paid sharing will be available in almost all of the remaining countries today, Netflix emphasized that it expects revenue growth to accelerate in the second half of 2023.