Netflix posts strong Q3 growth: 282.7M subscribers and counting

Netflix continues to ride a wave of success, posting impressive third-quarter results that surpassed Wall Street's expectations. The company’s advertising-supported tier saw a 35% jump in memberships compared to the previous quarter, while it added 5.1 million new subscribers, bringing its total to a record 282.7 million.

Revenue rose by 15% to $9.83 billion, and net income increased 41% to $2.36 billion. These gains were largely attributed to hit series like The Perfect Couple and Emily in Paris, which captivated audiences, while upcoming releases such as Squid Game season two are expected to keep that momentum going into the final quarter.

Though subscriber growth has slowed compared to earlier in the year, Netflix remains confident in its strategic initiatives. The company’s crackdown on password sharing and introduction of ad-supported plans have both proven successful in boosting revenue. The platform also continues to invest heavily in live events and sports, recently securing deals for WWE and NFL broadcasts, including two NFL games on Christmas Day and an upcoming boxing match between YouTube star Jake Paul and boxer Mike Tyson.

Looking ahead to 2025, Netflix expects to grow revenue between $43 billion and $44 billion, with a focus on improving its core content offerings and expanding its advertising and gaming ventures. As part of this shift, the company plans to discontinue reporting on subscriber numbers next year, moving its focus to revenue and profitability metrics.

Netflix assured investors that engagement remains strong, with viewers spending around two hours per day on the platform. Shares surged nearly 5% in after-hours trading as the company reported its achievements and outlined its vision for sustained growth and innovation in the coming years.

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