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6mo ago

Netflix Shares Surge After Strong Q3 Earnings and Subscriber Growth

The streaming giant outperformed expectations, driven by original content and strategic expansion in Asia.

Overview

  • Netflix's Q3 earnings exceeded Wall Street expectations, with shares rising 11% as revenue grew by 15% to $9.83 billion.
  • The company added over 5 million new subscribers, primarily from Europe, the Middle East, Africa, and Asia-Pacific regions.
  • Analysts remain optimistic about Netflix's future, citing strong content offerings and a sustainable operating margin.
  • The return of popular series like 'Squid Game' and Netflix's foray into live sports are expected to boost subscriber numbers in Q4.
  • Netflix's ad-supported tier and crackdown on password sharing have contributed to its revenue growth, though the ad business isn't yet a major revenue source.