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this post was submitted on 19 Jul 2023
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Technology
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After all the self righteous whingeing when they did this, and talk of "sailing the high seas", it's refreshing to know it actually did work out for Netflix.
It's a nice headline, but the full results for Netflix did not meet expectations, so the share price fell about 9% overnight.
Compared to the same period last year (Q2 2022), revenue has only grown 3.2% and profit margins are up by only 0.5%. From revenues of $8.2B for the quarter, Netflix made $1.5B in net income (18% profit margins).
So, they're making a shitload of money, but not as much money as they hoped?
If you don't make ALL THE MONEY investors don't like it and your company loses value. These days it doesn't matter if you make a profit if it doesn't meet projections. It's all fucking voodoo economics...the only thing that makes a company worth anything is the confidence of the invetors behind it.