SAN FRANCISCO: Netflix on Tuesday topped revenue and subscriber expectations but shares dipped as the leader in streaming television fell short on profit in the recently ended quarter.
The global streaming giant said that it ended the second quarter with 209 million paid subscribers and revenue of $7.3 billion, some 19 percent higher than the same period a year earlier.
Profit was reported at $1.35 billion as compared to $1.7 billion in the preceding quarter. The net income figure missed market expectations.
Netflix shares slipped some three percent in after-market trades that followed release of the earnings figures.
The streaming leader said the pandemic "has created unusual choppiness" in its results after strong growth last year which has now subsided.
Netflix said it is continuing to invest in content as production recovers from pandemic-caused delays, and that it is "in the early stages of expanding into games."
"We view gaming as another new content category for us, similar to our expansion into original films, animation and unscripted TV," Netflix said in an earnings release.
"Games will be included in members´ Netflix subscription at no additional cost similar to films and series."
Brian Dowling recently moved to a new house with Arthur Gourounlian alongside their daughter Blake
JoJo Siwa denied accusations that she stole the song and insisted she doesn’t know who Brit Smith is
Kate Middleton's Cancer diagnosis and chemotherapy: Catherine gives update on her health with latest move
Stevie Nicks is scheduled to perform at the forefront of the concert series on Friday, July 12
Taylor Swift seemingly took a dig at Kim Kardashian in her new diss track 'thanK you aIMee'
Former Home and Away star Orpheus Pledger was caught assaulting a woman on CCTV