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Key Points
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Netflix (NASDAQ: NFLX) has surged 94% over the past year, outperforming the “Magnificent Seven” stocks, which include Meta, Apple, Amazon, Alphabet, Microsoft, Nvidia, and Tesla.
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The streaming service reported Q2 2023 revenue of $11.08 billion, a 13% year-over-year increase, and earnings per share (EPS) of $7.19, soaring 47%.
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Management expects Q3 revenue to reach $11.5 billion, up over 17%, and has raised full-year revenue guidance to $45 billion.
In the wake of rising competition and market expectations, Netflix has emerged as a standout performer, greatly surpassing the returns of its popular tech peers—the “Magnificent Seven”—over the past year. The company recently reported impressive financials for Q2 2023, including revenues of $11.08 billion and EPS of $7.19, exceeding analyst expectations significantly.
Looking ahead, Netflix anticipates continued growth, projecting Q3 revenue of $11.5 billion. The company has noted strong subscriber gains and the successful rollout of its ad platform, reinforcing a robust outlook for the remainder of the year.
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