Netflix Inc (NASDAQ: NFLX) shares are trading higher Thursday following strong third-quarter results from the streaming giant. Multiple analysts are also out with positive rating adjustments.
What Happened: Netflix reported third-quarter revenue of $8.54 billion, which beat the consensus estimate of $8.53 billion, according to Benzinga Pro. The company's top-line results were up 7.8% on a year-over-year basis.
Netflix reported quarterly earnings of $3.73 per share, up from $3.10 per share in the same period last year and ahead of the consensus estimate of $3.49 per share.
Netflix said its better-than-expected results were due to higher-than-expected member growth. Paid net adds came in at 8.76 million, up from 2.4 million in the prior quarter, driven by the ...