NFLX - Netflix Ad Tier Gains Traction: What's Going On With Shares Today? | Benzinga
Netflix Inc. (NASDAQ:NFLX) shares opened at $649.79 and quickly traded lower by 1.5% on Wednesday.
The Los Gatos, California-based entertainment company is projected to report the smallest subscriber growth numbers for its streaming platform in five quarters for April-June. Significant gains have been made from its crackdown on password sharing, plus a shift in attention to summer sporting events, including the Euro soccer tournament.
According to LSEG data, Netflix added an estimated 4.82 million subscribers in the second quarter. While that’s slower growth, the new ad-supported tier has shown revenue growth.
Reuters reported that ad income is expected to more than double in the June quarter. The company’s revenue is anticipated to have increased by 16.4% to ...