Netflix reports – exceeds expectations

Netflix's report for the third quarter exceeds market expectations, reports CNBC. Among other things, ad-financed memberships have increased by 35 percent.

» Published: October 17 2024

Netflix reports – exceeds expectations
Photo: Jenny Kane/AP/TT

The turnover amounted to 9.83 billion dollars, which corresponds to approximately 103 billion kronor. At the same time, market analysts had expected a turnover of 9.77 billion dollars, according to the analysis firm LSEG.

During the past quarter, the streaming giant made a profit of 5.40 dollars per share. This can be compared to the analysts' expectations of 5.12 dollars per share.

Even when it comes to membership, Netflix delivered better figures than expected. In total, the streaming giant has 282.70 million users – and according to the service Street Account, the figure was expected to be 282.15 million before the report.

As recently as July, the company stated that a total of 277 million users were connected to the service – thus approximately five million fewer than the figure presented on Thursday.

Netflix has been focusing on increasing the number of users for some time, and has, among other things, introduced a cheaper subscription with advertising. According to the company, this alternative has increased by 35 percent since the previous quarter, and will be offered in more countries, primarily next year.

The Netflix share has been steadily increasing since a dip in the spring of 2022. Over the past year, the share has risen by approximately 93 percent.

In the first half-hour of after-hours trading, the share rose by around 4 percent.

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By TTTranslated and adapted by Sweden Herald

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