$7.85 billion $7.85 billion, according to Refinitiv survey.7.66 million adds, compared to 4.57 million subscribers expected, according to StreetAccount estimates.
Netflix touted new releases like the television series "Wednesday," the docuseries "Harry and Meghan" as well as Rian Johnson's film "Glass Onion" as popular content during the quarter. Last quarter, the streamer said it was "very optimistic" about its new advertising business. While it doesn't expect the new tier will add a material contribution to its fourth-quarter results, it foresees membership growing gradually over time.
Heading into Thursday's report, analysts are expecting the company to announce an additional 4.57 million paid subscribers, on pace with Netflix's own projection of 4.5 million. The number would be stronger than the 2.4 million the service added in the previous quarter and significantly better than the declines it saw in the first half of the year.
JBoorstin Check the $NFLX earnings poll:
JBoorstin When will profits matter?
JBoorstin How come this quarter EPS est only $0.45? Wasn't over $2 in the past?
JBoorstin EPS missed by a mile. yikesy. stock should have tanked big time AH. sub numbers saved the stock looks like. added so many subs, but still missed big on bottom line. ad supported subs will prolly cannibalize non-ad supported subs. ScottWapnerCNBC davidfaber
JBoorstin I did not know that she works for Netflix now
JBoorstin And to think they want to move focus from subscribers to earnings. Ha! Subscribers surprise, earnings disappointment
JBoorstin The c suit is about to lose their shirts
JBoorstin Subscriber growth! Big upside move
JBoorstin Don't see this going into tomorrow. I've seen stocks rally post earnings and crash the next day and visa versa
JBoorstin