The final season of global phenomenon “Squid Game” helped Netflix top Wall Street earnings targets for the second quarter, the streaming service said Thursday as it raised revenue guidance for the year.
Shares of the company, which had risen nearly 44% this year ahead of the earnings report, dropped nearly 2% to $1,252.94 in after-hours trading.
The company said its higher revenue forecast “primarily reflects the weakening of the US dollar.”
The final season of global phenomenon “Squid Game” helped Netflix top Wall Street earnings targets for the second quarter. ©Netflix/Courtesy Everett Collection
For April through June, Netflix posted diluted earnings per share of $7.19. That topped the $7.08 consensus estimate of analysts polled by LSEG.
The company raised revenue guidance for 2025 to $44.8 billion to $45.2 billion, citing the weakening of the US dollar plus “healthy member growth and ad sales.”
Its previous guidance was up to $44.5 billion.
For the just-ended