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Netflix exceeded earnings expectations with a growth in profit and subscriber numbers. The company's strategic content investments paid off, leading to a significant increase in revenue and subscriber base.
The streaming giant Netflix has said that it will stop reporting quarterly subscriber numbers with its 2025 earnings.
Netflix explained the decision in its second quarter revenue forecast on Thursday, but the stated reasons have not mitigated this decline.
The streaming giant began a crackdown on password sharing last year, and investors are getting their hopes up for another subscriber-growth bonanza this year.
Netflix surprised Wall Street Tuesday by announcing it added more than 13 million subscribers last quarter. That's more than 4 million over what analysts expected.