Streaming giant nets big profits

NETFLIX is expected to say the coronavirus pandemic has helped send its third quarter profits rocketing 46 per cent higher to $971 million (£751.4 million) when it reveals its results on Wednesday.

The streaming Tv-giant is also tipped to say it is closing in on hitting 200 million subscribers. Netflix currently has approximately 193 million around the world. Its third quarter revenues are forecast to come in at £5billion, a 21.7 per cent increase on the same period last year.

Netflix’s latest hit is Cobra Kai, above, the follow-up to the Karate

Kid movies. Next month, it will release the latest season of The Crown.