Netflix reported robust Q2 2024 financial results, with revenue climbing 17% year-over-year to $9.56 billion and net income surging 44% to $2.15 billion. The streaming giant added 8 million new paid subscribers during the quarter, bringing its total global membership to 277.6 million. Operating margin expanded to 27% from 22% in the prior year period, while diluted earnings per share grew 48% to $4.88.Content investments remained a key focus, with content spending increasing 21% year-over-year as Netflix continued expanding its original programming slate. The company maintained strong cash generation with $1.29 billion in operating cash flow, while investing $4.05 billion in content assets. Regional performance showed particular strength in APAC and LATAM markets, which added 2.8 million and 1.5 million new subscribers respectively.Looking ahead, Netflix emphasized its commitment to improving content offerings and service quality while maintaining financial discipline. The company repurchased $1.6 billion of stock during the quarter and renewed its $3 billion revolving credit facility. Management highlighted opportunities in advertising and paid sharing initiatives, though noted potential headwinds from foreign exchange rate fluctuations impacting international revenues.

Netflix reported robust Q2 2024 financial results, with revenue climbing 17% year-over-year to $9.56 billion and net income surging 44% to $2.15 billion. The streaming giant added 8 million new paid subscribers during the quarter, bringing its total global membership to 277.6 million. Operating margin expanded to 27% from 22% in the prior year period, while diluted earnings per share grew 48% to $4.88.Content investments remained a key focus, with content spending increasing 21% year-over-year as Netflix continued expanding its original programming slate. The company maintained strong cash generation with $1.29 billion in operating cash flow, while investing $4.05 billion in content assets. Regional performance showed particular strength in APAC and LATAM markets, which added 2.8 million and 1.5 million new subscribers respectively.Looking ahead, Netflix emphasized its commitment to improving content offerings and service quality while maintaining financial discipline. The company repurchased $1.6 billion of stock during the quarter and renewed its $3 billion revolving credit facility. Management highlighted opportunities in advertising and paid sharing initiatives, though noted potential headwinds from foreign exchange rate fluctuations impacting international revenues.