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Netflix Profits Surge 45% Off Higher Subscription Prices
(MENAFN- The Peninsula)
AFP
San Francisco, United States: Netflix reported stronger than expected second-quarter results Thursday, with profit jumping 45 percent year-over-year as the streaming giant benefited from price increases and a growing advertising business.
Revenue climbed 16 percent to $11.1 billion in the quarter ended June 30, beating analyst estimates and the company's own guidance, while net profit surged to $3.1 billion.
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