Netflix shares jump 7% in premarket after third-quarter earnings beat

📆 18/10/2024 13:02:00
📰 NBCNewYork

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Netflix saw momentum in its ad-supported membership tier, which jumped 35% quarter-over-quarter.

Netflix shares jumped almost 7% Friday after the streaming giant reported third-quarter earnings that beat expectations.

Crucially, While Netflix doesn't expect ads to become its primary growth drive until 2026, it said the ad-tier accounted for over 50% of sign-ups in the third-quarter in countries where it's available.

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