Netflix (NFLX) Misses Q2 EPS by 18c; Adds 1.5M Subs

(Updated - July 20, 2021 4:04 PM EDT)

Netflix (NASDAQ: NFLX) reported Q2 EPS of $2.97, $0.18 worse than the analyst estimate of $3.15. Revenue for the quarter came in at $7.34 billion versus the consensus estimate of $7.32 billion.

The company added 1.54 million net subs in the quarter. The company had expected 1 million net sub additions.

For Q3, the company sees revenue of $7.477 billion and EPS of $2.55 versus the consensus of $7.48 billion and $2.17. The company sees 3.5 million net sub additions, below the consensus of roughly 5 million.

On entering gaming, the company said: "We’re also in the early stages of further expanding into games, building on our earlier efforts around interactivity (eg, Black Mirror Bandersnatch) and our Stranger Things games. We view gaming as another new content category for us, similar to our expansion into original films, animation and unscripted TV. Games will be included in members’ Netflix subscription at no additional cost similar to films and series. Initially, we’ll be primarily focused on games for mobile devices. We’re excited as ever about our movies and TV series offering and we expect a long runway of increasing investment and growth across all of our existing content categories, but since we are nearly a decade into our push into original programming, we think the time is right to learn more about how our members value games."

For earnings history and earnings-related data on Netflix (NFLX) click here.

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