Netflix posts higher 3Q earnings, solid subscriber growth
Netflix posted sharply higher third-quarter earnings Tuesday thanks to a stronger slate of titles, including “Squid Game,” the dystopian survival drama from South Korea that the company says became its biggest-ever TV show.
Netflix said its subscriber base grew 9% from a year earlier, to 213.6 million, surpassing its own projections.
Netflix earned $1.45 billion, or $3.19 per share, in the latest quarter. That’s up from $789.9 million, or $1.79 per share, a year earlier. Revenue grew 16% to $7.48 billion from $6.44 billion.
Analysts, on average, were expecting earnings of $2.56 per share on revenue of $7.48 billion, according to a poll by FactSet.