In today's video I look at fundamentals and recent earnings for Netflix (NASDAQ:NFLX). Below I share a few highlights from the video.
- Netflix's revenue grew 19% year over year and finished the quarter with over 209 million paid subscribers for Q2 2021. Netflix added 1.54 million subscribers, beating its previous guidance of 1 million subscribers, and forecasts 3.3 million subscribers for the upcoming quarter.
- Netflix mentioned gaming, a new content category that will be included in members' subscriptions at no additional cost. Initial games will be focused on mobile devices.
- According to Nielsen, streaming represents only 27% of US TV screen time, so there is plenty of room for growth. Netflix currently represents only 7% of US TV screen time and believes the number is much lower in other countries. Netflix is attempting to increase its TV screen time by adding new content and improving its services.
*Stock prices used were the closing prices of July 20, 2021. The video was published on July 20, 2021.