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Netflix beats Q2 earnings expectations, generates $889 million in revenue

Updated Dec 19th, 2018 8:30PM EST
BGR

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Netflix’s (NFLX) stock has taken a beating over the past year — Netflix shares were trading around $80 on Tuesday, down from a 52-week high of $285.50 — but things have been looking marginally brighter in recent months. The company posted a narrower than expected $5 million loss in the first quarter this year, and Wall Street was expecting a profit of $0.05 per share on $888.9 million in sales for the June quarter. Netflix posted its second-quarter results shortly after the close of the market on Tuesday, and it beat analysts’ consensus with a profit of $0.11 per share on revenue of $889 million.

Despite the positive earnings news, the company said that it expected to report a loss in the fourth quarter of 2012 due to a launch in a new international market. Netflix expects that this operating loss will only be a temporary setback, however, and expects a return to profitability in the following quarter. The company’s earnings report apparently didn’t satisfy investors as the company’s stock fell 14% in after-hours trading following the announcement.

Brad Reed
Brad Reed Staff Writer

Brad Reed has written about technology for over eight years at BGR.com and Network World. Prior to that, he wrote freelance stories for political publications such as AlterNet and the American Prospect. He has a Master's Degree in Business and Economics Journalism from Boston University.