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Netflix (NFLX) came out with quarterly earnings of $5.40 per share, beating the Zacks Consensus Estimate of $5.09 per share. This compares to earnings of $3.73 per share a year ago.
After delivering a solid third-quarter earnings report, Netflix execs fielded the question top of mind for most investors (though definitely not for inflation-wracked subscribers): When will they raise prices in the U.S.? “Our approach to pricing has been remarkably consistent over many, many years,” Co-CEO Greg Peters said.
Netflix's success will lead to more consolidation among legacy media in the streaming: Ben Silverman
Ben Silverman, Propagate Content Chairman & Co-CEO, joins 'Closing Bell Overtime' to talk Netflix earnings.
Netflix is working to increase revenue from its new ad-supported plans but has said it does not expect advertising to become a primary growth driver until 2026.
Netflix shares are up close to 4% in after-market trading as the company's third-quarter numbers beat on the bottom line and subscriber numbers – which the streamer will not routinely release on a quarterly basis starting next year.
Internet television network Netflix beat Wall Street's targets for Q3 and guided above views for the current period.
Netflix added more than 5 million customers in the third quarter and sales grew 15% to $9.83 billion, while earnings increased to $5.40 a share. Analysts were predicting Netflix would add 4.52 million subscribers.
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Netflix (NFLX) is rallying postmarket after the company posted an earnings beat. The streaming giant is raising prices in select countries and announced its global streaming paid memberships grew 14%.
Barbara Doran, BD8 Capital Partners CEO, and Mark Mahaney, Evercore ISI head of internet research, react to Netflix earnings.