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The earnings tally blew past the consensus forecast by analysts, while the revenue figure fell slightly short.

Revenue increased 9% to $7.97 billion, while earnings per share ticked up to $3.20 from the year-ago mark of $2.97. Subscriber retention improved over the course of the second quarter and, while churn (aka the number of subscribers canceling in a given period) remains вЂњslightly elevated,вЂќ the company said it nearlyВ has returned to where it was before the price hike.

and Canada this year, which saw NetflixвЂ™s most popular plan go to $15.49 a month - highest in all of general-entertainment streaming - seems to be getting absorbed. Netflix Layoffs Cost Streamer $70M In Severance Charges Nearly 500 Staffers Axed RecentlyДЄ recent price increase in the U.S.

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The last two episodes of Stranger Things 4 arrived this month, and later in the quarter the platform will see debuts for new series Sandman and a fifth outing for Cobra Kai, plus such big-budget, star-driven movies as The Gray Man and Day Shift. Some marquee films and series have debuted or will soon in the period. Such a growth level would be below previous third quarters, and the cautious outlook is likely being influenced by inflation and a host of other adverse macroeconomic factors. NetflixвЂ™s guidance for the third quarter for an addition of 1 million subscribers was strikingly conservative. Netflix To Launch Advertising Tier In вЂњEarly PartвЂќ Of 2023Д«ut the news wasnвЂ™t uniformly positive.

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