Netflix Tops Wall Street’s Lofty Estimates, Raises Forecast

Netflix Inc. beat expectations for second-quarter results and continues to trounce rival media companies, yet the shares slipped on Friday as investors took a pause after the stock has nearly doubled over the past year.

The owner of the world’s most popular paid streaming service on Thursday reported revenue grew to $11.1 billion and earnings jumped to $7.19 a share. The company also raised its forecast for full-year sales and profit margins.