Netflix is growing again, and Hollywood can breathe a sigh of relief.
The streaming leader added 2.41 million customers in the third quarter, exceeding internal forecasts as well as expectations on Wall Street. Netflix grew in all regions of the world and said on Tuesday it expects to sign up another 4.5 million globally this period.
Shares of Netflix rose as much as 12 per cent to US$268.88 in extended trading after the results were out. The stock was down 60 per cent this year through the close Tuesday in New York. A big challenge on that front is the soaring dollar, which is taking a bite out of revenue and earnings. While Netflix said it can adjust content spending and pricing accordingly, its forecast for fourth-quarter sales and profit falls short of Wall Street estimates.
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