Netflix only loses 970,000 subscribers in second quarter after warning of loss of 2 million

Netflix shares jumped 8% after the company said it lost fewer subscribers than anticipated during the second quarter.

The company also said it aimed to unveil its lower-cost, ad-supported tier in early 2023. This comes on the heels of Netflix tapping Microsoft to be its partner on the ad-supported offering.

“We’ll likely start in a handful of markets where advertising spend is…