💨 Abstract

Netflix reported strong financial results for the April-June quarter, with profits rising 46% to $3.1 billion, exceeding Wall Street's expectations. Revenue increased 16% to $11.08 billion, meeting analyst projections. The streaming giant slightly raised its annual revenue forecast, citing anticipated subscriber growth. Despite a minor stock dip, Netflix's shares have surged 43% this year, driven by its low-cost ad-supported tier and popular content.

Courtesy: WTOP Staff