Netflix Posts Higher 3Q Profit, Sales on Rise of New Subscribers
October 19 2021 - 4:43PM
Dow Jones News
By Kimberly Chin
Netflix Inc. said it added more subscribers than it predicted in
the latest quarter as profit and revenue rose thanks to the return
of popular series and new hits.
The Los Gatos, Calif.-based streaming company said third-quarter
profit increased to $1.45 billion from $790 million a year earlier.
Per-share earnings were $3.19 a share, compared with $1.74 a share
last year, topping GAAP earnings estimates of $2.56 a share,
according to FactSet.
Revenue rose to $7.48 billion from $6.44 billion a year earlier
and was in line with analysts' expectations.
The streaming service said it added roughly 4.4 million
memberships in the third quarter. It had previously forecast it
would add 3.5 million memberships.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
October 19, 2021 16:28 ET (20:28 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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