Netflix earnings: Streamer 'building momentum' with password sharing crackdown, ad tier, analyst says

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Netflix's second-quarter results showed the streamer's earnings beat Street estimates, but revenue missed. However, subscriber growth surged.  Third Bridge Group Sector Analyst Jamie Lumley notes that investors were concerned with how the launch of a new ad tier coupled with the recent password-sharing crackdown would impact subscriber numbers. Lumley explains that with 5.9 million new subscribers added this quarter, that Netflix is "building momentum" on both initiatives.