As Wall Street watched for signs that the world’s largest streaming service can keep growing, Netflix reported mixed second-quarter results Wednesday.
The streaming behemoth posted net income of $1.48 billion, or diluted earnings per share of $3.29, on revenue of $8.2 billion. Analysts surveyed by Zacks Investment Research were expecting earnings per share of $2.83 on revenue of $8.26 billion. Netflix also disclosed that it added 5.9 million paid subscribers in the quarter, ending June with a total of 238.4 million globally.
Average revenue per user came in at $16.18 in the United States and Canada, $10.89 in the Europe, Middle East and Africa region, $8.60 in Latin America and $8.03 in the Asia-Pacific region. Revenue grew 9% year over year in the U.S. and Canada to $3.6 billion and 3% year over year in Latin America to $1.07 billion, but fell 6% year over year in the Emea region to $2.5 billion and 13% year over year in the Apac region to $934 million.
“While we...
The streaming behemoth posted net income of $1.48 billion, or diluted earnings per share of $3.29, on revenue of $8.2 billion. Analysts surveyed by Zacks Investment Research were expecting earnings per share of $2.83 on revenue of $8.26 billion. Netflix also disclosed that it added 5.9 million paid subscribers in the quarter, ending June with a total of 238.4 million globally.
Average revenue per user came in at $16.18 in the United States and Canada, $10.89 in the Europe, Middle East and Africa region, $8.60 in Latin America and $8.03 in the Asia-Pacific region. Revenue grew 9% year over year in the U.S. and Canada to $3.6 billion and 3% year over year in Latin America to $1.07 billion, but fell 6% year over year in the Emea region to $2.5 billion and 13% year over year in the Apac region to $934 million.
“While we...
- 7/19/2023
- by Lucas Manfredi
- The Wrap
Skeletor has triumphed over the forces of Eternia, as TheWrap has confirmed that Netflix has scuttled its iteration of the long-developing “Masters of the Universe” movie.
Mattel will be searching for a new producing/distribution partner for a big-budget adaptation of the 1980s action figure property, with at least $30 million in development costs already spent since 2007 in prior attempts to make a new movie. This latest version had Kyle Allen — still officially attached — starring as He-Man with Adam and Aaron Nee (“The Lost City”) set to direct.
The project has been bouncing around Hollywood for over 15 years, with Warner Bros. and Sony, as well as filmmakers like Jon M. Chu and McG temporarily involved. This recent attempt was shelved due to concerns over the budget, which reportedly ran over $200 million and was shut down even after the filmmakers allegedly brought the costs below $180 million.
A Netflix rep declined to comment,...
Mattel will be searching for a new producing/distribution partner for a big-budget adaptation of the 1980s action figure property, with at least $30 million in development costs already spent since 2007 in prior attempts to make a new movie. This latest version had Kyle Allen — still officially attached — starring as He-Man with Adam and Aaron Nee (“The Lost City”) set to direct.
The project has been bouncing around Hollywood for over 15 years, with Warner Bros. and Sony, as well as filmmakers like Jon M. Chu and McG temporarily involved. This recent attempt was shelved due to concerns over the budget, which reportedly ran over $200 million and was shut down even after the filmmakers allegedly brought the costs below $180 million.
A Netflix rep declined to comment,...
- 7/18/2023
- by Scott Mendelson
- The Wrap
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