Netflix exceeds expectations in Q3

Netflix exceeded expectations in the third quarter in terms of both revenue and profits, and garnered 4.4 million additional subscribers in net, also better than expected.

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The online video service now has 213.5 million paid subscriptions worldwide, and expects 222 million at the end of the year, according to a statement released Tuesday. By comparison, its main rival in this market, Disney, claimed 116 million subscribers in early July. “

the group commented,

Netflix mentions a figure from the Nielsen firm, which calculated that in September, the giant with the red N represented 6%

of the time spent in front of a screen in the United States, tied at the top with YouTube.

After a boost linked to the coronavirus pandemic and lockdowns (+25 million subscribers in one year), Netflix had seen its growth rate slow down in recent quarters.

But over the three months from July to September, it accelerated again (+ 9.4% over one year).

The Los Gatos (California) group expects to gain another 8.5 million net subscribers in the fourth quarter, in line with market forecasts.

Turnover up 16%

In the third quarter, Netflix posted revenue of $ 7.48 billion, up 16% year-on-year, slightly better than analysts' expectations, according to the consensus established by FactSet.

Net income was up 83% to $ 1.44 billion, or $ 3.19 per share, significantly better than the $ 2.56 expected by the market.

The stock, which is already close to its all-time high, did not react much in electronic exchanges after the close of the market.

It was up 0.36% to $ 641.30.