
Netflix rides ‘Squid Game' surge but keeps revenue goals cautious
The company reported earnings per share of US$7.19, slightly ahead of the $7.08 estimate from analysts polled by LSEG. Revenue totaled $11.08 billion, just over forecasts of $11.07 billion. Net income came in at $3.1 billion, edging expectations of $3.06 billion.
Netflix also raised its full-year revenue guidance to between $44.8 billion and $45.2 billion, citing "healthy member growth," strong ad sales, and a weaker U.S. dollar. Previously, the company had forecast revenue of up to $44.5 billion.
The update followed the late-June release of the final season of Squid Game, the dystopian Korean series that became Netflix's most-watched non-English language title. The new season drew 122 million views in just days, helping boost Netflix's performance late in the quarter.
Still, the stock fell 1.8 percent in after-hours trading, with some analysts saying the company's updated guidance felt cautious. "The full-year outlook now feels quite conservative, which is problematic for a stock priced for perfection," said Investing.com's Thomas Monteiro. "At this stage, the company appears overly dependent on further price increases — at least through 2026 — to drive revenue."
The company's efforts to expand its advertising business continue, including through an ad-supported tier and recent forays into live programming like WWE wrestling. However, Netflix has said advertising will remain a secondary contributor to revenue growth in the near term.
Among the other shows released during the quarter were Sirens, The Four Seasons, and a third season of Ginny & Georgia. Netflix no longer reports quarterly subscriber numbers and has instead asked investors to focus on profit. It said member growth beat forecasts but came late in the quarter, limiting its impact on revenue.
Looking ahead, Netflix projected $11.5 billion in revenue and net income of nearly $3 billion for the next quarter — both slightly above Wall Street expectations.
Two major releases are on the horizon: a new season of Wednesday in August and the final episodes of Stranger Things in November and December. Both shows rank among Netflix's most valuable franchises globally.
In a post-earnings call, Chief Financial Officer Spencer Neumann was asked about the possibility of acquiring assets from other media firms. He reiterated Netflix's preference for organic growth: "We've historically been more builders than buyers, and we continue to see big runway for growth without fundamentally changing that playbook."
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Montreal Gazette
17 hours ago
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Ottawa Citizen
17 hours ago
- Ottawa Citizen
Inside the CFL: Bianca Maciocia following in her dad's footsteps with Alouettes
They live under the same roof, but there will be no ride-share program on this day to the Alouettes' practice at Stade Hébert. Article content Indeed, Als general manager Danny Maciocia and his daughter Bianca, a football operations assistant intern with the team, only travel together when the team has a home game at Molson Stadium. Article content 'When she's at work she's an employee, she's not my daughter,' he explained. Article content Article content An unpaid employee at that, given her intern status. But at least Maciocia and his wife, Sandra Vaz, allow the eldest of their three daughters to continue living rent-free at home. Article content Article content Bianca has been working under the shadow of her father since February, when she first approached him with the idea. She spent three weeks at the Alouettes' 2023 training camp and spent six summers at the Université de Montréal when her father was the Carabins' head coach. Article content Fluent in four languages (English, French, Italian and Portuguese), Bianca hardly required this abrupt change in career paths. She graduated from Concordia University in 2023 with a degree in human relations and organizational development. She had been accepted into the University of Ottawa to pursue a bachelor's degree in sports management, and was in the early stages of working for Air Canada in its flight operation department out of the airline's St-Laurent headquarters. Article content Article content 'I think I've always looked up to my dad,' she said. 'I've always been in awe of what he does, the industry and the type of job. I want to try to work in the industry and do something in the same field. I see it as an industry where there's a lot of opportunity, and there isn't enough representation among women.' Article content It's difficult to determine when the seeds were first planted, although there's a famous 2005 photo of Maciocia holding his daughter on his shoulder, their arms raised and fists clenched, after Edmonton's head coach at the time led the team to a Grey Cup victory against Montreal. Article content Article content Maciocia has spent three decades in football and got his start in the CFL with the Alouettes in 1996 as a volunteer offensive quality-control coach, where he would break down game film and write reports. So, the apple doesn't fall far from the tree. And while it's possible Bianca wouldn't be with Montreal except for the direct connection, such hirings aren't unusual in professional football.
Montreal Gazette
a day ago
- Montreal Gazette
Quebec's English school boards to mount legal fight over budget cuts
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