Netflix reported its third-quarter earnings Thursday, adding 5 million subscribers as its status as subscription streaming TV’s dominant platform remains unchallenged.
The company now has 282.7 million million global subscribers. Netflix will stop reporting subscriber numbers and average revenue per member beginning in the first quarter of 2025, a timeframe that is quickly approaching.
Netflix reported revenue of $9.83 billion and operating income of $2.91 billion, both up substantially from a year earlier, and each beating Wall Street expectations. Netflix’s operating margin was 30 percent, compared to 22 percent a year ago.
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The Street had been expecting revenue of $9.76 billion and earnings per share of $5.12, and total subscriber count to top 282 million.
In its quarterly shareholder letter, the company spent a significant amount of space to its content and its advertising tiers, with plans to significantly expand
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