Netflix is working to increase revenue from its new ad-supported plans but has said it does not expect advertising to become a primary growth driver until 2026.
Netflix (NFLX) reported third-quarter results that topped analysts' estimates on the top and bottom lines, sending shares higher after the bell Thursday.
Netflix shares are up close to 4% in after-market trading as the company's third-quarter numbers beat on the bottom line and subscriber numbers – which the streamer will not routinely release on a quarterly basis starting next year.
Internet television network Netflix beat Wall Street's targets for Q3 and guided above views for the current period.
Netflix added more than 5 million customers in the third quarter and sales grew 15% to $9.83 billion, while earnings increased to $5.40 a share. Analysts were predicting Netflix would add 4.52 million subscribers.
After cracking down on password sharing, expanding into ads and investing billions in live TV, group declares success
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Netflix Inc (NASDAQ:NFLX, ETR:NFC) reported third-quarter results that exceeded Wall Street's expectations across key financial metrics, adding 5.07 million subscribers and driving a 15% year-over-year revenue growth. The streaming giant posted earnings per share (EPS) of $5.40, surpassing analysts' forecasts of $5.12, while revenue reached $9.83 billion, slightly above the projected $9.77 billion.
Streaming giant Netflix Inc NFLX reported third-quarter financial results after market close Thursday.
Netflix (NFLX) is rallying postmarket after the company posted an earnings beat. The streaming giant is raising prices in select countries and announced its global streaming paid memberships grew 14%.
Barbara Doran, BD8 Capital Partners CEO, and Mark Mahaney, Evercore ISI head of internet research, react to Netflix earnings.
Netflix beat Wall Street's expectations on both earnings and revenue, and added 35 million paid subscribers year-over-year, sending shares of the streaming giant up in after-hours trading.