NFLX Q2 earnings and TSLA Q2 earnings are now out, and we have those results below! As more Q2 big tech earnings continue to drop, we’ll add them to this page and continue to update with numbers, guidance, comments, and stock market reactions!
NFLX Q2 Earnings Report: A Mixed Bag with EPS Beat, Revenue Miss, Subscriber Beat, and Guidance Adjustment
- NFLX Q2 EPS $3.29 v $2.83 expected
- NFLX Q2 Revenue: $8.19B v $8.30B expected
- Netflix guidance was mixed:
- NFLX Q3 EPS: Above analyst expectations, $3.52 vs $3.24 estimated
- NFLX Q3 Revenue: Lower than expected, $8.52B vs $8.68B estimated
Lights, camera, earnings! Netflix, the streaming giant, unveiled its second-quarter financial results, and the plot had some twists and turns. While the company delivered an impressive earnings per share (EPS) of $3.29, surpassing the projected $2.83, the revenue numbers didn’t quite hit their mark. Coming in at $8.19 billion, it fell slightly short of the estimated $8.30 billion. Cue the suspense!
Looking ahead to the next quarter, Netflix’s guidance left investors with mixed feelings. On the one hand, EPS is expected to outperform analyst expectations at $3.52, beating the estimated $3.24. On the other hand, revenue is projected to be lower than anticipated, with Netflix forecasting $8.52 billion versus the estimated $8.68 billion. Will the streaming giant captivate its audience with a strong finish, or will the plot thicken?
In a surprising subplot, Netflix experienced a significant surge in subscriber additions during Q2. The company welcomed 5.89 million net subscribers, exceeding expectations of just 2 million. How did this happen? Well, Netflix cracked down on password sharing, forcing subscribers who were sharing accounts across households to make tough choices. They had to create new accounts, pay extra to share the existing account, or sacrifice access to their beloved Netflix shows. This move, called “paid sharing,” proved to be a success for the company. In fact, Netflix plans to extend “paid sharing” to all its remaining international subscribers, starting today. Additionally, the company is excited about the steady growth of its new “ad-supported plan,” which adds another layer of intrigue to the narrative.
Following the report, Netflix shares fell by -5% after hours.
TSLA Q2 Earnings: Racing Past the Street, but Profit Margins Hit a Speed Bump
- TSLA Q2 EPS: $0.91 v $0.82 expected
- TSLA Q2 Revenue: $24.93B v $24.48B expected
- Tesla left its full-year delivery guidance unchanged at 1.8 million
Let’s switch gears and focus on the electric car maverick, Tesla. Tesla revealed an EPS of $0.91, racing past the expected EPS of $0.82. Revenue for the quarter also charged ahead of analyst predictions, reaching $24.93 billion, against an expected $24.48 billion.
While Tesla’s overall earnings performance was commendable, there was a twist in the plot. Profit margins took a hit this quarter due to recent price cuts made by the company. Nevertheless, during Tesla’s recent delivery and production data drop, the EV titan boasted some impressive numbers: 466,140 vehicle deliveries and 479,700 electric vehicles (EVs) produced. These figures surpassed street expectations, leaving investors buzzing with excitement.
Hold on tight — because Tesla’s earnings call is coming next, and when it comes to Tesla’s stock performance, Musk’s comments often take the driver’s seat. Investors have submitted and voted on several important questions. Some burning inquiries include whether Elon Musk will finally agree to a Tesla stock buyback, updates on the highly anticipated Cybertruck, and even insights into the “Tesla Bot” — the company’s humanoid robot. Will Tesla’s leadership deliver the answers we crave?
Following the report, but prior to the earnings call, Tesla shares were left mostly flat, up a modest +0.26%.