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Elon Musk Calls for Netflix Subscribers to Cancel, Stock Drops
Elon Musk, CEO of Tesla, urged Netflix subscribers to cancel their accounts due to controversy surrounding a character from an animated series, triggering a 5% drop in Netflix’s stock on the same day. Despite this setback, Netflix’s shares have risen 35% over the year, with the company reporting a robust second quarter with revenues of $11.1 billion, a 15.9% year-over-year increase, and earnings per share of $7.19, up 47.3% from the previous year.
Netflix maintains a strong operational framework, backed by significant data from its vast viewer base, which enables the creation of content tailored to consumer preferences. The company also reported free cash flow of $2.3 billion, a notable 86.9% increase compared to the prior year, indicating sustained performance despite competitive pressures in the streaming landscape.
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