American online streaming service provider Netflix recorded a 45% increase in profit during the second quarter of this year, attributed to higher subscription prices and revenue generated from advertisements.
According to a news agency, Netflix reported better-than-expected results for the second quarter of this year, with profit increasing by 45% compared to the same period last year. The company’s revenue rose by 16% to \$11.1 billion, exceeding not only analysts’ estimates but also Netflix’s own projections. During this period, Netflix’s net profit stood at \$3.1 billion.
Netflix has also raised its annual revenue forecast for 2025, now projecting revenue between \$44.8 billion and \$45.2 billion, compared to its previous estimate of \$43.5 billion to \$44.5 billion.
The company praised the performance of its content this quarter, especially the third season of “Squid Game”, which was watched 122 million times. According to Netflix, this ranks as the sixth most-watched season of any series in the company’s history. The company added that Korean content continues to be popular among viewers, reflecting the success of Netflix’s international strategy.
Netflix also announced plans to expand into live programming, which will include major boxing matches and NFL games, aiming to diversify its offerings beyond traditional on-demand entertainment.
The report stated that Netflix’s shares have surged by more than 40% since the beginning of the year. During this quarter, the company expanded its advertising capabilities and noted that ad-based revenue is expected to nearly double in 2025.
