Netflix posts record revenue of $2.3 billion on content slate

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Netflix posts record revenue of $2.3 billion on content slate

The result was driven by some of the company's strongest content slate, including the Addams Family spin-off Wednesday -- its third most watched TV show on record, and the murder mystery Glass Onion -- its fourth most popular movie.

According to Wells Fargo analysts, double-digit revenue growth could be achieved in the second half of the year because content performance is underpinning all aspects of financial improvement and helps investors sleep better.

Positive signs for the ad-supported plan and a crackdown on password-sharing that Netflix says will get more revenue out of the 100 million people who use the service without paying for it are also reflected in that outlook, which is mirrored by other brokerages.

Greg Peters, who was promoted to co-CEO along with Ted Sarandos after Reed Hastings decided to move to the role of executive chairman, said that this will not be a universally popular move.

After a short period of churn, the company expects to see increased engagement and monetization.