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Netflix's Q3 earnings report reveals a surge in subscribers, with 8.8 million new additions, surpassing expectations of 6.2 million. The streaming giant's stock jumps 16% as Wall Street embraces its ad-driven subscriber growth. However, the company faces backlash as it plans to increase subscription prices while actors continue to be denied proper streaming residuals. Despite this controversy, Netflix's success is attributed to the popularity of the legal drama 'Suits,' which was the most-watched title on streaming in the US for 12 weeks. The company also expects Q4 subscriber net additions to be similar to Q3's results.
This marks the 14th week that ‘Suits’ has tallied over 1B viewing minutes, according to Nielsen https://t.co/F881LDC6Sw https://t.co/jjW7cloSr2
UPDATE: Netflix shares came roaring out of the gate and never wavered amid a wave of Wall Street enthusiasm. The stock closed at $401.77, up 16%, on nearly five times normal trading volume (click photo below for story) https://t.co/k2POuXOsTy https://t.co/BetFhKWfqh
Nielsen Streaming Top 10: ‘Suits’ Returns to First Place for the 13th Time After One Week at No. 2 https://t.co/G1mvzQCCHK https://t.co/3Z3xvADun8
netflix stock jumped 16-17% today off of its earnings report and news of subscription price hikes days after they walked away from bargaining with actors
Netflix‘s stock is again north of $400 per share and this time it may be to stay. The streamer revealed surprisingly good third-quarter results October 18, revving up investors and Wall Street’s media analysts. Our full report: https://t.co/rwj1bPs6g9 https://t.co/9aSDqLjKRY
Netflix users threaten to CANCEL their subscriptions as prices are hiked for millions of customers https://t.co/JR4TQDHyr8 https://t.co/dWObkjlLRx
It's not just Netflix: These are all the streamers that raised prices this year, including Max, Hulu and Disney+ https://t.co/1rGw2MWtur
Netflix is shocking no one with its latest price hike, so prepare your wallets https://t.co/IqoeXua6lS
Netflix added 8.8 million new subscribers in its third quarter, handily beating expectations of 6.2 million. $NFLX said it expects Q4 subscriber net additions "to be similar" to Q3's results. https://t.co/PbNzZXmgmU https://t.co/qHBOU2yTVc
Netflix stock surges 16% after Wall Street buys into ad-driven subscriber growth https://t.co/aTLp3SuD3b
MORGAN STANLEY: Against “rising anxiety and falling stock price, the business has been accelerating, the password crackdown is working, and the competition has pulled back.” Ups $NFLX to Overweight, $475 target (prior $430) https://t.co/HHsCbYAOXb
Here are Thursday's biggest analyst calls: Tesla, Netflix, Best Buy, Amazon, First Solar, Disney & more https://t.co/RTFjCHZizB
LISTEN NOW: Netflix shares are popping after reporting a boost in subscriber growth. Big Technology's Alex Kantrowitz explains. Listen and follow the @CNBCWEX podcast here: https://t.co/oxVXD9Sfaa https://t.co/otXxpdHDG8
Netflix shares climb nearly 14% in premarket trade on strong subscriber growth https://t.co/s4ZPb43QeO
Netflix $NFLX 3Q23 Earnings 💪🏻 - Rev $8.5b +8% ↗️🟡 - EBIT $1.9b +25% ↗️🟢 margin 22% +309 bps ✅ - Net Inc $1.7b +20% ↗️🟢 margin 20% +199 bps ✅ - OCF $2b +258% 🚀 margin 23% +1629 bps ✅ - FCF $1.9b +300% 🚀 margin 22% +1615 bps ✅ Biz Metrics - Paid Subs 247m +11% ↗️🟢 -… https://t.co/M5ncW0ivjo https://t.co/cijWKOu0L4
Netflix "in the Sports Business" But Still Not Interested in Live Games https://t.co/IeTtcesJFQ
Netflix raising prices "starting today," company confirms in letter https://t.co/BHBro4UKFh https://t.co/LUK36lKze7
LISTEN NOW: It is one of the most exciting afternoons of earnings season with results from Tesla, Netflix and Las Vegas Sands, among others. Listen and follow the @CNBCOvertime podcast here: https://t.co/PhvVUfPR0h https://t.co/3ikuR4HlFe
Sports programming still dominates TV, and Netflix is leaning more into it https://t.co/Ec9Ke7lB50
Stocks making the biggest moves after hours: Netflix, Tesla, Lam Research, Las Vegas Sands and more https://t.co/cj1qXfgXeg
Netflix flips the streaming script again with a return to growth mode https://t.co/5zzs0HxiQw
Netflix, $NFLX: "ads plan membership up almost 70% quarter-over-quarter; 30% of sign-ups in our ads countries are to our ads plan."
Netflix subscribers surge as company announces price hikes in some regions https://t.co/UKj0KdAGOC by @allie_canal
Netflix, $NFLX, to increase the price for its premium service by 15% to $22.99 per month.
Netflix Plans "Substantial Changes" to Executive Pay After Shareholders Rejected CEO Pay Packages https://t.co/t9mqVkjtsw
Netflix Signals Increase in Spending on Licensed Titles Following ‘Suits’ Explosion https://t.co/JMGeQMxUCk
Netflix Price Hike Starts Today in US, UK and France https://t.co/kuuC7yHAh5
Netflix Stock Jumps 12.3% as Streamer Adds Nearly 9 Million Subscribers in Q3 https://t.co/k4fmgBGbCx
$NFLX 🔸NETFLIX SHARES EXPAND AFTER THE BELL GAINS, LAST UP 12% AROUND $388
Netflix are reportedly planning on increasing their subscription prices soon. Despite this, they are still refusing to pay actors what they rightfully deserve. (https://t.co/cVutoSg65C) https://t.co/mAfjtYz7iP
The ‘Suits’ Effect: Netflix Eyes More Licensed Shows Following Success Of USA Network Legal Drama On Streamer (click photo below for story) https://t.co/4n2F3mJWWW https://t.co/CxnYUwg4Dg
Netflix Tops Q3 Expectations, Confirms Price Hikes Are On The Way (click photo below for story) https://t.co/gZ6qUeEkRU https://t.co/Tpngd2Dx1e
Netflix beats by $0.24, reports revs in-line; guides Q4 EPS below consensus, revs below consensus; expects Q4 paid net adds will be similar to Q3 give or take a few million $NFLX
Netflix popping post-earnings The streamer added 8.8 million subs in Q3 (vs. estimated 6.2 million), giving it 247 million global subscribers The 'Suits' effect in full swing https://t.co/p2o8uVpBfg https://t.co/Tv9cZjk2sA
"Suits" was mentioned 5 times in $NFLX Q3 letter "According to Nielsen, Suits was the most-watched title across film, original TV and acquired TV on streaming in the US for 12 weeks starting in late June (614M view hours - a new Nielsen record). Over that same time frame, Suits… https://t.co/LqAgj5Eq43
Netflix has gained 8.76M subscribers in Q3 2023. The ads plan membership is up almost 70%, yet actors are still being refused proper streaming residuals. https://t.co/pwrKZcd9ta
Netflix, After Reducing Spend During Strikes, Now Expects Free Cash Flow to Be $6.5B https://t.co/HJuT0RWDDK
Q3 earnings indicate a surge in subscriber count for $NFLX. The streaming giant also confirms that it will raise prices in the US, the UK, and France. https://t.co/S7VKGuystD
*NETFLIX 3Q STREAMING PAID NET CHANGE +8.76M, EST. +6.20M
$NFLX 🔸NETFLIX INC SHARES HIT SESSION LOW, DOWN 3.03% AT $344.93 AHEAD OF QUARTERLY REPORT
Ten Questions for Netflix’s Q3 2023 Earnings Interview Tonight #Netflix @Netflix $NFLX https://t.co/tk98kfQGxu
As of about June, Netflix’s ad sales and ad-supported subscriber numbers were roughly half what staffers had initially projected internally for 2023. https://t.co/1Hrjeq07nM