Netflix, Inc. (NASDAQ: NFLX) on Thursday reported higher revenues and profit for the third quarter, as the streaming giant’s subscriber base continued to expand. Both earnings and the top line exceeded estimates.
The company added 5.07 million new members and ended the third quarter with a total of 282.72 million paid subscribers. At $9.83 billion, Q3 revenue was up 15% from the year-ago quarter and above analysts’ forecast.
Net income increased to $2.36 billion or $5.40 per share in the September quarter from $1.68 billion or $3.73 per share in the corresponding period of 2023. Earnings also topped the market’s expectations.