Netflix Inc reversed customer losses and provided a slightly more bullish outlook than Wall Street expected, projecting a new ad-supported streaming option would help attract 4.5 million subscribers by year’s end.
Shares of Netflix jumped 10% in after-hours trading on Tuesday to $265.00.
During the quarter, Netflix released the final episodes of sci-fi hit “Stranger Things” plus serial-killer series “Dahmer – Monster: The Jeffrey Dahmer Story”, which became one of Netflix’s most-watched series of all time. In its quarterly letter to shareholders, Netflix noted that rival media companies are losing money as they try to attract streaming viewers.
For the third quarter, Netflix topped Wall Street projections with revenue of $7.9 billion, up 6% from a year earlier. Earnings were $3.10 per share. Netflix is launching a $7-per-month streaming plan with advertising in early November to attract cost-conscious customers, a move executives had long resisted.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Moderna signs deal on variant-adapted COVID shots for world's poorest - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.ICYMI Moderna Inc has agreed to provide its new variant-adapted COVID-19 vaccine to the global scheme aiming to deliver shots to the world’s poorest people. COVID19 Vaccine
Read more »
BREAKING NEWS LIVE | Soldier killed, two others injured in Pretoria shooting | News24News24 brings you all the latest news alerts from across South Africa.
Read more »
BREAKING NEWS LIVE | 'You killed my daughter': Bokgabo Poo's dad confronts her alleged murderer in court | News24WATCH | 'You killed my daughter': Bokgabo Poo's dad confronts her alleged murderer in court
Read more »
BREAKING NEWS LIVE | Ramaphosa makes U-turn on ministerial handbook, withdraws perks for ministers and deputies | News24JUST IN | Ramaphosa makes u-turn on ministerial handbook, withdraws perks for ministers and deputies
Read more »
BREAKING NEWS LIVE | KZN mayor, bodyguards granted bail in firearm related case | News24News24 brings you all the latest news alerts from across South Africa.
Read more »