Netflix reverses subscriber slump, shares surge 10% - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Netflix Inc reversed customer losses and provided a slightly more bullish outlook than Wall Street expected, projecting a new ad-supported streaming option would help attract 4.5 million subscribers by year’s end.

Shares of Netflix jumped 10% in after-hours trading on Tuesday to $265.00.

During the quarter, Netflix released the final episodes of sci-fi hit “Stranger Things” plus serial-killer series “Dahmer – Monster: The Jeffrey Dahmer Story”, which became one of Netflix’s most-watched series of all time. In its quarterly letter to shareholders, Netflix noted that rival media companies are losing money as they try to attract streaming viewers.

For the third quarter, Netflix topped Wall Street projections with revenue of $7.9 billion, up 6% from a year earlier. Earnings were $3.10 per share. Netflix is launching a $7-per-month streaming plan with advertising in early November to attract cost-conscious customers, a move executives had long resisted.

 

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Government of Kenya, and other African states, should abolish ID cards and issue all citizens with passports like it's in the UK to ease the stress of getting both. UK scrapped off IDs in 2011, time Kenya and Africa follow suit

They must keep bringing new best movies,series,documentary and shows,they must stop loading boring stuff & their subscription fees must be lower because things are too expensive right now,people are focusing on basic needs now and their marketing dept must work hard than before

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