Netflix reports higher revenue and earnings in Q2 earnings report
Anyone looking for bad news in the second quarter earnings report from Netflix would have to look awfully hard. The company reported both higher revenue and net income in its latest report, as well as strong viewer support for the second season of its original series Orange is the New Black.
Revenue came in at $1.340 billion, up 25.3 percent versus the same quarter last year. Net income was $71.0 million, up substantially over the $29.5 million the company reported a year ago.
“Our U.S. member base grew to more than 36 million on the strength of our ever-improving content offering, including Orange is the New Black Season 2. For Q3, we expect about 1.3 million net additions, comparable to Q3’13 in which we premiered Orange Season 1,” Reed Hastings, CEO of Netflix reported in the earnings statement.
Netflix still has over 6 million members who receive DVDs through the mail, down just over 1.2 million from a year ago. But it now reports over 36 million streaming members (35 million paid), up 23 percent from the same quarter last year.