Netflix reported for the second quarter of 2022: for the streaming service, the results turned out to be better than anticipated. The company lost about 1 million paid subscribers instead of the projected 2 million, according to the service’s report.
The number of paid subscribers decreased from 221.64 million to 220.67 million In April 2022, after losing 200,000 users amid Netflix's exit from the Russian market, the platform forecast another 2 million canceled subscriptions in the second quarter .
In the current report, the company gave more positive forecasts: in the third quarter the number of paid subscribers is expected to increase by 1 million.
Netflix's second-quarter revenue was $7.97 billion, earnings: $1.44 billion In the third quarter, the company predicts a decline in revenue to $7.8 billion.
In April 2022, Netflix reported for the first quarter and for the first time in the history of the streaming service, it reported the loss of 200 thousand subscribers. The decrease in the number of users is due to inflation, Russia's special operation in Ukraine and fierce competition between streaming services.
After the publication of the first quarter report, the platform's shares on the Nasdaq stock market plummeted 37% in one day.
Author:
anastasia mariana
Source: RB
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
