The firm predicted in April that it would lose two million subscribers in the second quarter. It shocked investors and raised doubts about its long-term prospects.
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In the first quarter, the company reported the first decline in the number of subscribers in more than a decade. However, it continues to be the dominant player in the market, with nearly 221 million subscribers at the end of the second quarter. In the third quarter, it expects an increase in the number of subscribers by around one million.
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Netflix’s net profit rose to $1.44 billion (roughly CZK 34.5 billion) in the second quarter from $1.35 billion a year ago. Year-on-year sales rose by almost nine percent to almost eight billion dollars.
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Netflix now plans to encourage interest in its service by offering a cheaper subscription that would see viewers see ads.
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