(UPI) — For its second quarter this year, Netflix reported total revenues of $11.08 billion, with an operating income of $3.8 billion and margin of 34.1%, which are way up from last year and beyond market estimates.
Netflix isn’t releasing subscriber figures, choosing instead to focus on revenue. It’s trying out new revenue models, including advertising.
New price increases with slow customer turnover are what likely caused the strong margins, according to the Hollywood Reporter. Earnings in the United States and Canada grew by 15%, a boost from 9% in Q1.
Forecasted revenue for Q3 is $11.5 billion in revenue, $3.6 billion in operating income…
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