'Patience is a virtue,' highlights one Wall Street expert as observers discuss lower-than-expected revenue trends, while others lament 'mixed' results, and one speaks of 'a mother of a quarter.'
kicked off Hollywood’s second-quarter earnings season with the typical bang after the market close on July 19, with the stock taking a hit in after hours, and Wall Street analysts updating their subscriber and financial models overnight.new subscribers to hit a global total of 238.4 million and $1.5 billion in earnings on revenue of $8.2 billion.
But among the key takeaways highlighted by investors and Wall Street experts were also slightly lower-than-expected second-quarter revenue and third-quarter revenue growth guidance, amid lower-than-estimated ARM, or average revenue per membership. Netflix is forecasting ARM before currency impacts to be flat to slightly down in the third quarter compared with the same period in 2022, which disappointed some observers.
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