(MENAFN) Shares of U.S.-headquartered Netflix rose nearly 8% on the New York Stock Exchange after its balance sheet showed a drop in subscribers that exceeded expectations.
Tuesday’s report showed that the platform had fallen by almost 970,000 subscribers in the second quarter of this year, but the outlook was for almost 2 million.
The company’s net profit rose 8.6% to $7.9 billion in the April-June period from the same period of 2021, while its net revenue rose 6.5% to $1.4 billion over the same period.
Shares of the platform, which were near $175 over the past week, ended Tuesday at $189 and remained to climb near $217.5 throughout after-hours trading. .
The cost of shares of the platform, which last year reached the rate of UDS680, a year ago was almost 530 USD.
After its initial 3-month results showed a decrease of 200,000 users, its stock fell from $350 to less than $200 in mid-April.
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