Netflix exceeded earnings expectations with a growth in profit and subscriber numbers. The company s strategic content investments paid off, leading to a significant increase in revenue and subscriber base.
Netflix gains 6 million subscribers after clamping down on password sharing, reaching a total of 238 million subscribers and a profit of USD 1.5 billion. While revenue fell below expectations, analysts praise Netflix's resilience amid a potential entertainment industry strike. The company focuses on expanding advertising revenue through ad-supported plans., Technology & Science News, Times Now
SAN FRANCISCO, Oct 20 Netflix reported billion-dollar profits and booming subscriber growth yesterday that beat forecasts as global hits like Squid Game drew viewers in their droves. Analysts had been worried that a surge in Netflix subscriptions during pandemic lockdowns would be followed by a.
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Netflix shares jumped more than 12 per cent in after-market trades following the release. Reuters pic
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SAN FRANCISCO, Jan 20 Netflix yesterday delivered stronger-than-expected subscriber growth in the past quarter, keeping ahead of new streaming rivals competing for viewers stuck in their homes during the coronavirus pandemic.
The streaming television leader added some 8.5 million paid subscribers in the quarter to reach 203 million, topping 200 million despite recent price hikes, its quarterly earning update showed.
Netflix shares jumped more than 12 per cent in after-market trades following the release.