![]() ![]() It was a big miss, though it was still seen as a victory by many industry watchers since Netflix actually lost US subscribers in the prior quarter. That said, global growth in markets outside of the United States could prove to be crucial in the coming years - while overall Q3 subscriber additions beat estimates, Netflix only added about 500,000 new subscribers in the US despite estimates that were north of 800,000. Despite the impending launches of Apple TV+ on November 1st, Disney+ on November 12th, and HBO Max early next year, Netflix has proven that it can still attract new customers to its ever-expanding catalog of streaming movies, shows, and specials. But the biggest news may have been the addition of 6.77 million new paying subscribers over the course of the quarter, which is a big bounce back from a disappointing second quarter. EPS climbed to $1.47 compared to earnings of $0.89 per share in the year-ago quarter, and revenue climbed to $5.25 billion from $3.91 billion in the third quarter last year. Most or even all of it was erased on Wednesday afternoon, however, when Netflix announced third-quarter earnings and crushed the Street’s estimates. With hotly-anticipated new streaming media services set to pop up left and right in the coming months, there has been some uneasiness surrounding Netflix lately. ![]()
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