The highly anticipated release of Netflix’s Q3 earnings happened at the end of trade yesterday, revealing that the streaming platform hit $282 million globally. The third-quarter subscriber and financial results bested analysts’ estimates on every metric.
The forecast for the July-September quarter predicted earnings per share of $5.12 on $9.77 billion in revenue; however, Netflix reported an adjusted EPS of $5.40 and net income of $2.4 billion on $9.83 billion in revenue.
Despite constraints from recent strikes affecting its content, the online platform continues to perform strongly due to the crackdown on password sharing and the introduction of a more affordable, ad-supported subscription tier. Netflix stated that this quarter saw them add 5.1 million new paid subscribers to their platform.
Netflix projects its 2025 revenue to grow by 11% to 13%, potentially reaching $44 billion. Prices are also expected to rise for its customers, which could force more users to the ad-supported subscription option.
By CEO NA Editorial Staff
