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Streaming video pioneer Netflix picked up 5.1 million subscribers in the third quarter, topping Wall Street estimates by more than 1 million users, the company said in its earnings report on Thursday.Shares of Netflix were up more than 4% at $718.10 in after-hours trading. The stock closed the regular session down 2% at $687.65.Investors had expected Netflix to bring in 4 million subscribers from July through September, according to analysts’ estimates compiled by LSEG. New programming during the period inc ...

Netflix (NFLX) reported third-quarter results that topped analysts' estimates on the top and bottom lines, sending shares higher after the bell Thursday. The streaming giant posted third-quarter revenue of $9.83 billion, up 15% from a year ago and above the analyst consensus from Visible Alpha. Net income came in at $2.36 billion or $5.40 per share, compared to $1.68 billion or $3.73 per share a year earlier, also beating projections. Total active subscribers climbed 14% to 282.72 million, just above Stree ...

Netflix expects to double its profits this quarter after the world’s largest streaming service added more than 5 million new subscribers this summer.After cracking down on password sharing, introducing adverts to its service and investing billions in live TV, the group declared it had “delivered” on plans to shore up its business.Hits including The Perfect Couple and Emily in Paris drew viewers to the platform in the last quarter. Netflix hopes a new season of Squid Game will bolster its audiences as the ye ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Streaming giant Netflix Inc NFLX reported third-quarter financial results after market close Thursday. Here are the key highlights. What Happened: Netflix reported third-quarter revenue of $9.825 billion, up 15% year-over-year. The revenue total beat a Street consensus estimate of $9.769 billion according to data from Benzinga Pro. The company reported earnings per share of $5.40 in the third quarter, beating a Street consensus estimate of $5.12. Netflix ended the third quarter with 282.72 million global pa ...

ToplineNetflix beat Wall Street’s expectations on both earnings and revenue, and added 35 million paid subscribers year-over-year, sending shares of the streaming giant up in after-hours trading.Netflix logo on a mobile phone in Krakow, Poland on October 17th, 2024. (Photo by Beata ... [+] Zawrzel/NurPhoto via Getty Images)NurPhoto via Getty Images Key FactsNetflix reported $5.40 earnings per share and a revenue of $9.82 billion in the third quarter of 2024, ending in September 30, beating analyst consensus ...

Netflix reported third-quarter earnings on Thursday.New subscriber numbers beat analysts' expectations at 5.07 million.The streaming service is trying to grow new sources of revenue, such as gaming and advertising. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Go to newsletter preferences Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email addre ...

Netflix delivered third-quarter results above Wall Street expectations in many categories, including a gain of 5.1 million subscribers from the previous quarter. Total revenue of $9.825 billion clipped analysts’ consensus expectation for $9.77 billion. Earnings per share of $5.40 and the total subscriber tally of 282.72 million beat the Street forecasts of $5.12 and 281.5 million, respectively. The release of quarterly Netflix subscriber numbers is about to come to an end, as Netflix told investors earlier ...

Revenue and Financial Performance - Q3 2024 revenue grew 15% year-over-year to $9.825 billion, with an operating margin of 30%, up from 22% in Q3 2023[1][2] - Q3 2024 operating income increased 52% year-over-year to $2.9 billion, driven by higher revenue and timing of spending[4] - For Q4 2024, the company forecasts revenue of $10.128 billion, representing 15% year-over-year growth, and an operating margin of 22%[2][5] - Full-year 2024 revenue growth is expected to be 15%, at the high end of the 14%-15% range, with an operating margin of 27%, up from 26% previously[6] - For 2025, the company forecasts revenue of $43 billion to $44 billion, representing 11%-13% growth, and targets an operating margin of 28%[7] - Revenue for Q3 2024 reached $9.82 billion, a 15% increase compared to $8.54 billion in Q3 2023[31] - Operating income for Q3 2024 was $2.91 billion, up 52% from $1.92 billion in Q3 2023[31] - Net income for Q3 2024 stood at $2.36 billion, a 41% increase from $1.68 billion in Q3 2023[31] - Diluted earnings per share (EPS) for Q3 2024 were $5.40, compared to $3.73 in Q3 2023[31] - Total revenues for the quarter ended September 30, 2024, were $9,824,703, with a constant currency adjustment of $524,153, resulting in a 21% constant currency revenue growth[36] - Netflix's net income for the three months ended September 30, 2024, was $2,363,509, compared to $1,677,422 for the same period in 2023, representing a 41% increase[34] Streaming and Membership Growth - Global streaming paid memberships reached 282.72 million in Q3 2024, a 14.4% year-over-year increase[2] - Engagement remains healthy, with view hours per member among owner households increasing year-over-year in the first three quarters of 2024[1][9] - Netflix's advertising plan accounted for over 50% of sign-ups in ads countries in Q3, with membership growing 35% quarter over quarter[15] Content Performance and Investments - Couple* starring Nicole Kidman and Liev Schreiber achieved 65.2M views, while Monsters: The Lyle and Erik Menendez Story* by Ryan Murphy garnered 54.6M views[12] - The Menendez Brothers* documentary in October received 24.2M views, and Nobody Wants This* with Kristen Bell and Adam Brody achieved 37.0M views[12] - Simone Biles: Rising* garnered 19.0M views, The Accident* from Mexico achieved 37.2M views, and Desperate Lies from Brazil received 19.5M views[12] - Breathless* from Spain achieved 17.3M views, Tokyo Swindlers* from Japan garnered 10.5M views, and Culinary Class Wars* from Korea received 11.0M views[12] - The company plans to invest in new growth initiatives like ads and gaming while improving core series and film offerings for 2025[6][7] - Total streaming content obligations as of September 30, 2024, were $22.70 billion, up from $21.71 billion at the end of 2023[33] - Netflix's additions to content assets for the three months ended September 30, 2024, were $4,016,396, compared to $2,883,839 for the same period in 2023, a 39% increase[34] Advertising and Ad Tech - Ads membership grew 35% quarter-on-quarter, with the ad tech platform set to launch in Canada in Q4 2024 and more broadly in 2025[1] - Netflix's in-house first-party ad tech platform is on track to roll out in Canada next month, with a broader launch to all ads countries in 2025[16] Regional Performance - APAC revenue grew 19% year-over-year, leading all regions, driven by strong local content in Japan, Korea, Thailand, and India[3] Pricing and Plan Changes - Netflix increased prices in EMEA countries and Japan, and will increase prices in Spain and Italy starting tomorrow[12] - Netflix phased out the Basic plan in the US and France in Q3 and will do the same in Brazil later in Q4[12] Cash Flow and Financial Position - Netflix's Q3 operating cash flow was $2.3B, and free cash flow (FCF) totaled $2.2B, with full-year 2024 FCF expected to be $6.0B-$6.5B[18] - Free cash flow is highlighted as a key liquidity metric, though specific figures are not provided[27] - Netflix's non-GAAP free cash flow for the three months ended September 30, 2024, was $2,194,238, compared to $1,888,386 for the same period in 2023, reflecting a 16% increase[34] - Netflix's net cash provided by operating activities for the three months ended September 30, 2024, was $2,321,101, compared to $1,992,315 for the same period in 2023, a 17% increase[34] - Netflix's purchases of property and equipment for the three months ended September 30, 2024, were $126,863, compared to $103,929 for the same period in 2023, a 22% increase[34] Share Repurchases and Debt - Netflix repurchased 2.6M shares for $1.7B in Q3, with $3.1B remaining under the existing authorization[18] - Netflix's net debt as of September 30, 2024, was $6,831,370, a decrease from $7,382,192 as of June 30, 2024[37] - The company's total debt as of September 30, 2024, was $15,981,328, an increase from $13,980,065 as of June 30, 2024[37] Assets and Investments - Cash and cash equivalents increased to $7.46 billion as of September 30, 2024, from $7.12 billion at the end of 2023[33] - Short-term investments surged to $1.77 billion as of September 30, 2024, from $20.97 million at the end of 2023[33] - Total assets grew to $52.28 billion as of September 30, 2024, from $48.73 billion at the end of 2023[33] - The company's cash, cash equivalents, and restricted cash at the end of the period on September 30, 2024, were $7,459,085, compared to $7,356,836 for the same period in 2023[34] Forward-Looking Statements - The company emphasizes forward-looking statements regarding growth in streaming entertainment, ad-supported tier prospects, and content slate strength[28] Stock-Based Compensation - The company's stock-based compensation expense for the three months ended September 30, 2024, was $65,650, compared to $79,720 for the same period in 2023, a 18% decrease[34]