Underpromise and overdeliver appears to have worked this week for Netflix. Its share price is up 11% since July 19, when its second-quarter earnings report was released. Revenue growth slowed way down, but the company lost just 970,000 subscribers in the quarter, versus expectations for a drop of 2 million.
Is that what counts for good news now at Netflix?
As far back as 2019 and up until the first quarter of 2021, the streaming giant regularly logged year-over-year revenue growth between 24% and 30%. But in the last two quarters, revenue growth has plummeted to single digits, with the second quarter yielding just 8.6% growth and Netflix forecasting roughly 5% growth for its third quarter in 2022.
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