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ᴄʀʏᴘᴛᴏɴɪᴛᴇ
Netflix guided Q3 revenue growth of 12% and an operating margin of 33.2%. The year-ago margin was 28.2%, but that quarter included a $619M Brazil tax charge, so the comparison flatters it. A beat or miss hinges on ads. #NetflixQ3AdsAndMargins
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