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Netflix thus far exceeded its own forecast and the expectations of the analysts, which initially caused the share to rise after the exchange. At the end of the quarter, Netflix had almost 183 million paid memberships. Revenues increased approximately 28 percent year-over-year to $ 5.8 billion, while profits more than doubled to $ 709 million.
While many companies are suffering badly from the corona crisis, Netflix benefits from the fact that many people hardly leave their homes because of the virus. Despite the turmoil on the financial markets in recent months, the company is still very popular with investors, and the share has recently reached record highs. In terms of market value, Netflix even managed to outperform its big rival Disney.
After investors initially reacted enthusiastically after the exchange and pushed the stock significantly, profits shrink noticeably, an increase of 0.96 percent to $ 437.99 remains.
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