Netflix Inc. added 4.4 million memberships in the third quarter and beats earning estimates.
Netflix Inc. said it added more subscribers than it predicted in the latest quarter as profit and revenue rose thanks to the return of popular series and new hits.
The Los Gatos, Calif.-based streaming company said third-quarter profit increased to $1.45 billion from $790 million a year earlier. Per-share earnings were $3.19 a share, compared with $1.74 a share last year, topping GAAP earnings estimates of $2.56 a share, according to FactSet.
Revenue rose to $7.48 billion from $6.44 billion a year earlier and was in line with analysts’ expectations.
The streaming service said it added roughly 4.4 million memberships in the third quarter. It had previously forecast it would add 3.5 million memberships.Wall Street Journal
Looks like Squid Game helped.