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Los Angeles– Netflix The company reported third-quarter earnings on Thursday, beating both revenue and profit estimates as its advertising business continues to grow.
The number of advertising members of this anchor increased by 35% compared with the previous season. The company expects to launch the service in Canada next quarter, with a wider rollout in 2025.
What’s this Netflix reports For the period ended September 30:
- Earnings per share: $5.40 vs. $5.12 expected by LSEG
- income: US$9.83 billion, compared with US$9.77 billion expected by LSEG
- Paid membership: The figure was 282.7 million, compared with expectations of 282.15 million, according to StreetAccount
According to StreetAccount estimates, Netflix added 5.1 million new subscribers this quarter, exceeding Wall Street expectations of 4.5 million. The streaming service currently has a total of 282.7 million members across all pricing tiers.
Starting in 2025, Netflix will no longer update investors on its subscriber numbers as it shifts its focus to revenue and other financial metrics as performance indicators.
The company said Thursday it expected fourth-quarter revenue of $10.13 billion and earnings of $4.23 per share.
Netflix expects full-year 2025 revenue of between $43 billion and $44 billion as the company revamps its core series and movie offerings and invests in new initiatives such as advertising and gaming. Much of the revenue growth is expected to come from so-called “healthy growth in paying memberships.”
The company has new shows like “The Perfect Couple,” “Nobody Wants This” and “Tokyo Husbands,” as well as returning seasons of “Emily in Paris” and “Cobra Kai,” as well as “Beverly Hills Cop: Axel F” and other blockbusters.
Netflix plans to launch a second season of hit show Squidward in the fourth quarter, along with live sporting events such as a boxing match between Jake Paul and Mike Tyson and two NFL games on Christmas Day.
This is a breaking news story. Please check back for updates.
Correction: This article has been updated to correct reported and estimated revenue for Netflix’s third season. According to LSEG, the company reported earnings of $9.83 billion, compared with expectations of $9.77 billion.
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