Although the streaming company does not foresee advertising being its main growth driver until 2026, it highlighted that more than 50% of new memberships come from users in the ad-supported tier. As a result, the company’s shares rose 5% in trading after the report was filed.
It should be noted that among the most viewed series in this quarter was the Mexican Accidente, which added 37.2 million views in the world.
The company reported earnings per share of $5.40, exceeding expectations of $5.12 provided by Wall Street analysts, while revenue reached $9.83 billion, also above the $9.77 billion estimates.
Net income for the quarter was $2.36 billion, a notable increase from $1.68 billion a year earlier, with revenue increasing 15% to $9.83 billion compared to $8.54 billion in the same period. 2022.
Looking ahead, Netflix expects to generate $10.13 billion in revenue for the fourth quarter. By 2025, the company anticipates revenue between $43 billion and $44 billion, driven by the expansion of its offering of series, movies and new initiatives such as advertising and games. Much of this growth will be attributed to a healthy increase in paid subscriptions.
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