Shares, which have fallen roughly 67% this year on concerns about the company’s long-term prospects, rose 8% in after-hours trading following the results.
Hastings credited new episodes of the science-fiction series “Stranger Things,” the most-watched English-language show in Netflix history, with helping to stave off more defections. After years of red-hot growth, Netflix’s fortunes changed as rivals including Disney, Warner Bros Discovery and Apple Inc invested heavily in their own streaming services.
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