Netflix exceeded market expectations with its quarterly performance.
According to Netflix’s earnings report released on Thursday, the company added 5.07 million subscribers worldwide in the third quarter, bringing the total number of subscribers to 282.72 million. This slightly surpassed the market forecast of 282.15 million.
Revenue for the third quarter reached $9.825 billion, a 15% increase compared to last year’s, while net income surged 41% to $2.36 billion during the same period.
Earnings per share (EPS) stood at $5.40. Both revenue and EPS exceeded Wall Street’s average estimates of $9.77 billion in revenue and $5.12 in EPS.
Following the earnings announcement, Netflix’s stock rose by 3.8% in after-hours trading, hovering around $714.
