Netflix has reported a healthy 15% increase in revenue, reaching $9.8 billion this quarter, which is a bit more than what analysts expected. The Hollywood strikes last year hurt the release of “must-see” shows. Still, Netflix added 5.1 million subscribers, beating estimates and showing its resilience. The shares even jumped 5% in after-hours trading. What’s helping? Well, Netflix has been cracking down on password sharing, which has given their subscriber numbers a nice bump, though there’s talk about when this boost might taper off. On top of that, they’re diving into live sports, like WWE and NFL games, bringing a new kind of “must-watch” content that’s different from their rivals and seems to be attracting more viewers and ad dollars. Looking ahead, Netflix is eager about its fourth-quarter lineup, filled with major releases and events. The company is optimistic about sustaining strong revenue and profit growth into 2025. Its focus is on enhancing current content and diving into advertising and gaming. Netflix forecasts an 11-13% revenue increase next year. It aims to balance spending to ensure growth while protecting profits.
Wow, Netflix is absolutely crushing it! A 15% revenue increase despite the Hollywood strikes? Cracking down on password sharing must’ve really paid off. Looks like they’re unstoppable right now.
Finally, Netflix is getting into live sports! This could be a total game-changer. Imagine watching NFL games right on Netflix without needing a cable subscription. I’m all for it!