NFLX - Netflix Stock Jumps 13% on Earnings Beat and Strong Subscriber Growth
2023-10-19 08:37:20 ET
Netflix (NASDAQ: NFLX) stock surged 12.8% in after-hours trading on Wednesday, following the video-streaming giant's release of its third-quarter results. That pop can be largely attributed to investors' delight that the company raced by Wall Street's consensus earnings estimate, driven by a solid jump in paid subscribers. Revenue was in line with analysts' expectations.
Here's an overview of Netflix's third-quarter results and fourth-quarter guidance, centered on six key metric categories.
In Q3, Netflix's revenue grew 7.8% year over year to $8.54 billion. This result was in line with the Wall Street consensus estimate, and slightly higher than the company's own guidance of $8.52 billion.
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Netflix Stock Jumps 13% on Earnings Beat and Strong Subscriber Growth