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Netflix Shares Rise on Strong Earnings

18.10.2024

Netflix (NFLX) reported third-quarter results that exceeded analysts’ expectations, leading to a 4% rise in shares during extended trading.

Revenue reached $9.83 billion (+15%), while net income amounted to $2.36 billion ($5.40 per share). The number of subscribers increased by 14% to 282.72 million.

The company expects revenue growth of 15% this year, hitting the upper end of its forecasts. Netflix also announced that it would stop reporting subscriber data from 2025, shifting its focus to financial metrics.

Next year, Netflix will become the broadcaster of WWE TKO, adding sports content to its offerings.