Netflix Inc's global sensation 'Squid Game' helped lure more new customers than expected, the world's largest streaming service said on Tuesday as it predicted a packed lineup would further boost signups through the end of the year.
HBO Max and other competitors bolstered their offerings. Netflix blamed the earlier weakness in part on a thin slate of new programming caused by production shutdowns from the pandemic.
The fervor around "Squid Game" also is expected to lift the current quarter. Netflix projected it will pick up 8.5 million new customers by year's end, ahead of industry forecasts of 8.33 million, as it releases a heavy lineup of new programming. Upcoming debuts include big-budget action flick "Red Notice" and a second season of fantasy drama "The Witcher."
For the quarter that ended in September, diluted earnings-per-share came in at $3.19, beating analyst expectations of $2.57. Revenue rose 16% to $7.5 billion. The company noted that it competes with a large set of activities beyond TV including TikTok and Fortnite. When Facebook Inc
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