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Netflix stock soars as company unveils international subscribers growth

By Yana Berman

The streaming giant beats Wall Street forecasts in third quarter

According to third-quarter earnings unveiled by Netflix, the streaming company has added many more subscribers than predicted by analysts.

During the reported period Netflix added 6.26m subscribers internationally, while Wall Street experts estimated the number to be somewhere around 6m.

The US additions were in line with the estimates, as Netflix gained the expected 6.8m there.

As for the fourth quarter, the streaming company predicts a 7.6m growth. In total, Netflix expects to have added 26.7m users to its network in 2019, which is slightly below last year's 28.6m.

The revenue for the third quarter was $5.24bn. Earnings per share were at $1.47. The net income also beat the estimates of $573.7m, reaching $665m.

Company's stock was up 11 per cent in post-market trading, which is a visible growth in comparison to September.

The New York Times links the subscriber growth to the introduction of the third season of Stranger Things, one of the service's most popular series. The new episodes drew 64m viewers within a few weeks.

Also in the third quarter, Netflix signed an exclusive contract with the Game Of Thrones creators David Benioff and DB Weiss.

Netflix
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