Netflix adds 5.9 million new subscribers amid password-sharing crackdown, and ad-supported option

Netflix handily beat Wall Street earnings forecasts on Wednesday as a password-sharing crackdown and an ad-supported option helped bring in 5.9 million new streaming subscribers in the just-ended quarter.

Revenue came in slightly below analyst predictions for April through June, as did Netflix’s projection for third-quarter revenue. The company said it expected revenue growth to accelerate in the second half of the year.

“While we’ve made steady progress this year, we have more work to do to reaccelerate our growth,” the company said in its quarterly letter to shareholders.