Global subscribers totaled 195.15 million by September 30, up from 192.95 million as of June 30. The company had predicted it would add 2.6 million new subscribers, so the growth of 2.2 million was well short and the smallest of any quarter in years after a spectacular surge earlier this year amid COVID-19.Revenue of $6.4 billion met analysts’ expectations, and exceeded the company’s internal guidance by $100 million.
Management also warned that the first two quarters of 2021 are likely to be down compared with the meteoric gains of the same periods in 2020. “We continue to view quarter-to-quarter fluctuations in paid net adds as not that meaningful in the context of the long run adoption of internet entertainment, which we believe is still early and should provide us with many years of strong future growth as we continue to improve our service,” the letter emphasized.
Better greenlight cuties 2 then.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China economy: Retail sales boom in September but GDP misses estimates - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. 🔥 Check It Out 🔥
Read more »