Netflix profits grew 166% over 2019

The streaming company announced that net profit for the second quarter of 2020 stood at $ 720.2 million

Netflix obtained a net profit of 720.2 million dollars in the second quarter of 2020, which represents an improvement of 166% compared to the result in the same period of 2019 of the American company of distribution of movies and online series, which increased at 10.1 million its number of subscribers between April and June.

In this way, in the first six months of the year the company gained 26 million subscribers, compared to 28 million added throughout the entire 2019 financial year, reaching 192.9 million subscribers. However, the 10.1 million subscribers in the second quarter represent a 36% deceleration compared to the growth registered between January and March.

In this sense, the streaming platform warned that it expects that the growth in the number of subscribers will slow down significantly in the second half of the year, with an expected increase of 2.5 million paying users in the third quarter, compared to to the 6.8 million incorporated between July and September 2019.

Netflix’s turnover in the second quarter of 2020 experienced an increase of 24.9% compared to the same period of 2019, reaching 6,148.3 million dollars.

In the first half, the company made a net profit of $ 1,429.3 million, 132% more than a year earlier, while the multinational’s revenues grew 26.2%, to $ 11,916 million.

K. Tovar

Source: dpa

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