Netflix Reports Strong Third Quarter Earnings With Growing Viewership

Netflix says subscribers spend an average of two hours each day using the platform, while household viewership increased compared to last year, according to the company’s third-quarter earnings report released today. The streamer has had a massive past few months, reporting $9.83 billion in revenue and $2.91 billion in operating income. It also added around 5 million subscribers for a total of 282.7 million globally.

Netflix is already an extraordinary package of series and films , and increasingly games and live events.” During an earnings call on Thursday, Netflix co-CEO Greg Peters confirmed that the platform is planning to roll out the redesign it began testing over the summer. “We’re excited with the progress that we’ve seen there, so we’re polishing it up,” Peters said. “We’re excited to bring that to our subscribers around the world.

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Stock market typically cools off in October following a really strong third quarterA weak month could be the set-up for a year-end buying opportunity, according to Piper Sandler.
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