Breaking news:Netflix’s latest earnings report has caused a…
major boost in its stock, with shares surging over 9% after a significant “beat-and-raise” performance for Q3 2024. The company exceeded Wall Street expectations across the board, reporting a 45% increase in earnings per share to $5.40, and a 15% year-over-year revenue growth, reaching $9.83 billion. Netflix also added more than 5 million new subscribers globally, bringing its total to over 282 million users.
This growth was driven by Netflix’s successful content slate and strong international performance, although there were challenges in Latin America due to price changes. Despite this, Netflix is projecting a strong Q4 with anticipated revenue growth of nearly 15% and even higher paid subscriber additions.
The company is also focusing on new growth avenues such as its ad-supported tier, which accounted for over 50% of new sign-ups in 12 key markets. Netflix’s ads business is scaling rapidly, with ad membership growing by 35% in the last quarter, laying the groundwork for continued growth in
