Netflix exceeded market expectations during the second quarter, as shown by the streaming giant's interim report.
The revenue was 9.56 billion dollars, which was higher than the expected 9.53 billion, reports CNBC.
The profit per share exceeded expectations of 4.74 dollars, landing at 4.88.
Netflix reported a record-high number of users on Thursday, with over 277 million. This is far ahead of competitors like Max and Disney+, reports CNN.
Lately, Netflix's share has risen due to efforts to get more users, with a cheaper subscription with ads. The company also wants users who have shared passwords to get their own accounts, which has also affected the number of users.
For other media companies, advertising has also become an increasingly important part of a business model, to increase or achieve profitability for streamed material.
Netflix also announces that the company will phase out the cheapest ad-free subscription in the USA.
Corrected version: In an earlier text, the wrong quarter was stated for the report.
