Netflix Revenue Grows 13% to $12.6 Billion

Netflix’s second-quarter revenue grew 13 percent and its net income jumped close to 10 percent, the company said Thursday, in line with Wall Street’s expectations.Audiences watched 97 billion hours of content in the first half of the year, about 2 percent more than they did in the same period the year before.Netflix highlighted the mystery crime series “I Will Find You” as its best new series in the quarter and hailed a strong showing by the animated film “Swapped.”Netflix’s stock has fluctuated widely in the past year.

In December, the streaming giant made a surprise $83 billion bid to acquire Warner Bros.Discovery’s film and television studios, but the proposed acquisition was never a big hit with investors.

Netflix’s stock was trading down about 40 percent until the company abandoned the deal in February.The stock has rebounded since then, but is still down some 20 percent this year.The company reduced its expectations for third-quarter revenue to 11.7 percent, its lowest percentage increase in at least five quarters.

As a result, shares dropped close to 9 percent in after-hours trading.In recent weeks, there has been increased attention on the viewership numbers for the second seasons of popular Netflix shows.Some, like the series “One Piece” and the anthology dramedy “Beef,” lost between 30 and 60 percent of their audience, according to the company’s engagement metrics.“Our shows tend to start really big, while most other places, their shows start pretty small and occasionally grow from there,” Netflix’s co-chief executive Ted Sarandos said during a call with investors on Thursday.

“Our Season 2 falloff is actually slightly improved this year relative to last year.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access.If you are in Reader mode please exit and log into your Times account, or subscribe for all of The T...