Netflix reported total Q2 revenues of $11.08 billion, with an operating income of $3.8 billion and margin of 34.1%, beyond last year and market estimates.

Netflix said its ad-supported tier and password-sharing curbs have significantly contributed to revenue growth. While it did not disclose specific figures, the company projected ad revenue to roughly double in 2025 and reach $9 billion by 2030.

Thursday reported second-quarter profit well ahead of analysts’ expectations, primarily due to favorable foreign-exchange conditions driven by a weakening dollar. The streaming giant NFLX +1.91% reported net income of $3.