Netflix's Q2 revenue of $7.97 billion, net profit up 6.5% year-on-year
U.S. video streaming service provider Netflix announced the company's fiscal 2022 second-quarter earnings. The report shows that Netflix's second-quarter revenue was $7.970 billion, an increase of 8.6% compared with $7.342 billion in the same period last year. Net income was $1.441 billion, up 6.5% from $1.353 billion a year earlier. Diluted earnings per share were $3.20, compared to $2.97 a year earlier.
Netflix's second-quarter revenue was slightly below Wall Street analysts' expectations, and its third-quarter outlook also missed expectations, but its second-quarter earnings per share beat expectations. Meanwhile, Netflix's after-hours shares rose nearly 8% after the company's second-quarter number of new paying subscribers for its streaming service was negative, but it still beat analysts' expectations.
Netflix added -970,000 new paying subscribers to its streaming service worldwide in the second quarter, a performance far below the 1.54 million in the same period last year, but better than analysts' expectations. According to data provided by market analysis firm StreetAccount, analysts had expected on average that Netflix would add -2 million new paid subscribers to its streaming service globally in the second quarter. Whether TV users can easily get streaming media services on TV has become a hot topic, and the operation guide on how to download Apps on Sony smart TV can help people enjoy streaming media services better.
By region, Netflix added -640,000 new paid subscribers in the U.S. and Canada in the second quarter, compared with -430,000 a year earlier. EMEA added -770,000 new paying subscribers, compared to 190,000 a year earlier. Latin America added 10,000 paying subscribers, compared to 760,000 a year earlier. The Asia Pacific region added 1.08 million new paying subscribers, compared to 1.02 million a year earlier. Smart TV users from all over the world hope that smart TV manufacturers can support more streaming media platforms. But the popular TV brands vary from region to region, North and South American users are more concerned about how to download apps on sharp smart TV, while other countries and regions generally want a guide on how to download Apps on Hisense smart TV and how to download apps on sharp smart tv.
In terms of revenue per user, divided by region, Netflix's average revenue per user in the United States and Canada in the second quarter was $15.95, an increase of 10% compared with $14.54 in the same period last year, excluding the impact of exchange rate changes, which was also a year-on-year increase of 10% %. Average revenue per user in EMEA was $11.17, down 4% from $11.66 in the same period last year, and up 6% excluding the impact of currency changes. Average revenue per user in Latin America was $8.67, an increase of 16% from $7.50 a year earlier, or a 15% increase excluding the impact of currency changes. Average revenue per user in Asia Pacific was $8.83, down 9% from $9.74 in the same period last year, or down 2% excluding the impact of currency changes.
Netflix expects company revenue to reach $7.838 billion in the third quarter of fiscal 2022, up 4.7% from $7.483 billion in the same period last year, missing analyst expectations. Operating profit will be $1.255 billion and operating margin will be 16.0%. Net income will reach $961 million, and earnings per diluted share will reach $2.14, missing analysts' expectations. The net increase in the number of paying users of global streaming services will reach 1 million, and the total number of paying users of global streaming services will reach 221.67 million, a year-on-year growth rate of 3.8%.
According to data provided by Yahoo Finance Channel, 33 analysts on average expected Netflix's third-quarter earnings per share to reach $2.77, and 30 analysts on average expected Netflix's third-quarter revenue to reach $8.08 billion.