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Netflix Inc. Surpasses Wall Street Forecasts!
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Netflix added 2.41 million new subscribers in the third quarter, above both internal projections and Wall Street predictions.
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Netflix has expanded all around the world and it anticipates adding 4.5 million new subscribers by this quarter.
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The most popular TV network in the world is on a positive trajectory, even though Netflix isn't growing as quickly as it was a few years ago.
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Shares of Netflix have increased by as much as 12% to $268.88 in extended trading.
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Millions of additional viewers were drawn in the third quarter thanks to a robust lineup of new shows.
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New episodes of Stranger Things, one of the most watched TV shows in the world, kicked off the increase in numbers.
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This quarter's revenue grew 5.9% to $7.93 billion, exceeding analysts' expectations.
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The company exceeded forecasts with a profit of $3.10 per share and a rise in paid subscribers to 223.1 million.