Mayor Brandon Johnson is defending his administration’s approach to fiscal management, asserting that Chicago does not have a spending problem despite the city’s budget ballooning to $17.1 billion and a projected deficit rising to $1.15 billion.
Netflix posted massive second-quarter earnings, reporting $11.08 billion in revenue and an operating income of $3.8 billion, with a strong 34.1% margin. These numbers not only exceeded Wall Street expectations but also reflected a dramatic improvement over last year. The company credited higher subscription prices and low customer churn for the surge in profit margins.
