Netflix stock surges after earnings, subscriber growth top estimates

Published On Oct 18, 2024, 9:38 AM

Netflix's stock soared over 8% following strong Q3 earnings, where it exceeded both earnings per share (EPS) and revenue estimates. The company reported a revenue of $9.83 billion for the quarter, a 15% increase year-over-year, and guided for Q4 revenue of $10.13 billion. Their subscriber growth also outpaced expectations with an addition of 5 million subscribers, leading to a total revenue forecast of $43-44 billion for 2025. Netflix continues to explore new revenue streams, including ad services and potential price hikes, amidst a growing customer base.

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Positive

Netflix's strong earnings report and continued subscriber growth indicate a positive outlook for the company. The planned price hike and increasing ad revenues could further enhance profitability. Investor sentiment may remain bullish given these developments and the company's guidance.

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