Netflix has added another 5.9 million global subscribers in Q2 2023, with the company’s earnings per share reaching $3.29, exceeding the $2.86 predicted by Wall Street analysts.
In Europe, the company reported an additional 2.4 million subscribers signed up to the streamer during the quarter.
In its letter to shareholders, Netflix said it expects revenue of $8.5 billion in Q3, which would be an increase of 7 per cent year-on-year.
The company said it has already launched its new account-sharing policies in more than 100 of the countries it operates in, accounting for more than 80 per cent of its revenue base, adding it now intends to proceed with rolling out the policies throughout the rest of its global footprint.
Meanwhile, co-CEO Ted Sarandos told analysts that Netflix does not intend to move into live sports, but will instead focus on “sports-adjacent programming”.
The planned celebrity golf match with Formula 1 drivers and professional golfers due to take place later this year “is something we’re excited about,” he said, but it is viewed as a promotional tool for shows Formula 1: Drive to Survive and Full Swing.