Netflix extends streaming dominance with 8M new subscribers and higher earnings

Netflix Inc. extended its lead in streaming, adding 8.05 million subscribers in Q2, surpassing expectations in all regions. Key drivers included a crackdown on password sharing and a new lower-priced ad-supported plan. Despite a dip in shares, earnings rose 48% to $4.88 per share, with revenue up 17% to $9.56 billion. Major hits like Bridgerton and Baby Reindeer boosted viewership, propelling Netflix's market dominance.

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By Lucas Shaw

Netflix Inc. extended its lead over the streaming competition, adding 8.05 million customers in the second quarter and raising estimates for annual sales and profit margins.

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