this post was submitted on 24 Jan 2024
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Am I on glue? I could have sworn the quarterly earnings call results were abysmal. Like quarter over quarter their revenue has tanked.
No. They've lost subscribers several times, but always in reaction to price hikes.
When you increase your prices 20% and lose 5% of your subscribers what you've done is reduce bandwidth costs while massively increasing profits.
And the crackdown on account sharing has been massively successful for them. If zero people had paid for new accounts their profits still would have gone up from their savings in bandwidth and processing. But then tons of people bit the bullet and started paying.
I understand that but the data I saw showed their revenue decreased substantially. I can't find it for the life of me though. It was some google popup on my phone and I have no idea how to get back to it lol.
Anywho, seems like I don't know what I'm talking about cause the stock is surging.