Netflix Tops Wall Street’s Lofty Expectations, Raises Forecast

Good morning. Netflix doesn’t disappoint. Couche-Tard’s abandoned bid for Seven & i exposes mounting pressures in its own business. And $17,000 made-in-China Chevys are winning hearts in Mexico. Listen to the day’s top stories.

Netflix topped Wall Street’s lofty expectations with second-quarter results that exceeded estimates in every major metric. 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. The world’s most popular paid streaming service has managed to thrive while rival media companies are unloading assets and cutting costs.