Reported about 1 month ago
Netflix's stock soared by 11% to a record above $760 after surpassing Q3 earnings expectations, with revenue reaching $9.83 billion, driven by initiatives like password sharing crackdowns and an ad-supported tier. The company added over 5 million subscribers in the quarter, exceeding forecasts, and projected revenue for Q4 at $10.13 billion. Analysts anticipate more price hikes which could further boost stock performance as Netflix continues to enhance its advertising strategy and content offerings.
Source: YAHOO