netflixNetflix has reported surprisingly strong third quarter results, sending the company's share prices soaring 20 percent in late trade (via Reuters).

The streaming content company added over 50 percent more subscribers than expected, owing to original shows like Stranger Things and Narcos drawing significant numbers of new international viewers and retaining U.S. customers despite a price hike. The news led to a share price rise to $119.82 in extended trade from a close of $99.80.

The company's performance signaled a distinct turnaround from its previous quarter, which indicated largely disappointing subscription growth. Netflix said it was on course to start collecting yields on its global profits next year, even though it was increasing spending on original programming.

Netflix said it had added about 3.2 million subscribers in Q3, far higher than a 2 million average estimate. In the U.S., the company added 370,000 subscribers, also above analysts' estimate of 309,000.

Netflix has expanded into more than 130 markets worldwide, including most major countries, except China. It said on Monday it was temporarily dropping plans to launch a service in China in the near term, opting instead to license its shows for "modest" revenue.

The company plans to increase spending on original TV shows and movies from last year by $1 billion, for a total of $6 billion earmarked for 2017.

Netflix's shares have surged in the past few years, thanks to rapid growth as the company achieved a significant shift in television watching habits. However, stock was down 12.7 percent this year as investors worried about slowing growth in the U.S. market and increasing competition from the likes of HBO Now, Amazon Video, and Hulu.

Tag: Netflix

Top Rated Comments

BlueParadox Avatar
59 months ago
After seeing the first episode of STRANGER THINGS at a friend's house, I immediately signed-up to watch the rest. Brilliant show, allowing the creators to utilise so much of what made 80's movies - particularly the early 80's - so memorable: tone, kids playing centre stage, special effects, (synth)music.

Well done to Netflix for seeing this show through, from beginning to end...
Score: 6 Votes (Like | Disagree)
oneMadRssn Avatar
59 months ago
I honestly think Apple should still make a bid to buy Netflix. The could provide a special subscription deal to Apple TV owners to get everyone to want one and build that platform. No one understands new content like Netflix. A bright future for them. 1/4 of Apple's cash and they would own streaming, it would substantially help build their new Apple TV platform with everyone wanting to own one and finally they'd have a real 'new content' arm that could focus on what it does best. Apple could also help Netflix in the app department as they've no clue what they are doing.

$60B, Netflix and chill.

They'd probably make the money back over 10 years at which point Netflix would be everyone's cable cutting option and Apple would own the market.
Please no. Anything cloud-based that Apple touches turns into a turd really fast. Netflix should stay independent for as long as possible.
Score: 6 Votes (Like | Disagree)
69Mustang Avatar
59 months ago
By offering a special subscription price for Apple TV. Think: $7 for ATV owners and $10 for everyone else.
Wait... so you're saying I can spend $150 to save $3. Are you my wife? Nichole is that you? If it is, I love you but this math doesn't work at home and it won't work on the internet either. Besides, we're talking about Apple. This is the same company that still sells two year old tech for full price. That recently sold an old ass monitor for $1000. You'll pay full price for the privilege of this: :apple:... and like it.

Pork chops for dinner please... LU
Score: 5 Votes (Like | Disagree)
TheAppleFairy Avatar
59 months ago
This is a great addition. One might wonder why this wasn't on the app at launch though.

But, the ATV3 version of genres is a lot better. It gives you sub-categories. Like, under horror > vampire or horror > zombies.
Good point, something my wife and I kept complaining about. We watch the ATV2 (same interface as ATV3) in our bedroom and have the ATV4 in the living room, we got frustrated a few times searching for movies on the ATV4 and wondered why they released a new product with a worse UI. Other than that the entire platform I like better because of Apps, I know have access to my personal collection via PLEX app.
Score: 1 Votes (Like | Disagree)
flyinmac Avatar
59 months ago
The relatively poor network television series selection this season certainly helps them.

I find that this year has seen me at the local movie rental center more than anytime in my past.

Netflix might have been an option, but I can't afford $150 a month for Internet. Unlimited plans are expensive.
Score: 1 Votes (Like | Disagree)
vertical smile Avatar
59 months ago
Good point, something my wife and I kept complaining about. We watch the ATV2 (same interface as ATV3) in our bedroom and have the ATV4 in the living room, we got frustrated a few times searching for movies on the ATV4 and wondered why they released a new product with a worse UI. Other than that the entire platform I like better because of Apps, I know have access to my personal collection via PLEX app.
I wish I could pick and choose the things about the ATV3 and 4 that I liked and have them on one device.

The ATV4 has potential, but I feel it still has a long way to go before it would fit the Apple's description of "revolutionary".
Score: 1 Votes (Like | Disagree)

Top Stories

samsung experience 1

Samsung's 'iTest' Lets You Try a Galaxy Device on Your iPhone

Thursday April 8, 2021 12:42 pm PDT by
Samsung has launched "iTest," an interactive website experience that's designed to allow iPhone users to test out Android on a Galaxy device, or "sample the other side," as Samsung puts it. Subscribe to the MacRumors YouTube channel for more videos. The iTest website is being advertised in New Zealand, according to a MacRumors reader who came across the feature. Visiting the iTest website on...
sonny 2021 ipad mini pro dummies

Leaked Dummy Units Show iPad Mini 6 With Thick Bezels and Home Button, New iPad Pro Models

Thursday April 8, 2021 2:11 am PDT by
Rumors suggest Apple will release refreshed versions of the iPad mini and iPad Pro models in the first half of this year, potentially as soon as this month, and a new leak today has provided us with a possible preview of what to expect in terms of the devices' overall design and camera prospects. Tech leaker and Apple blogger Sonny Dickson this morning shared images on Twitter showing dummy ...
iMessage Android featured

Apple's Rationale for Not Bringing iMessage to Android Revealed in Legal Documents

Friday April 9, 2021 2:22 am PDT by
It's no secret that Apple sees iMessage as a big enough selling point to keep the service exclusive to Apple devices, however new court filings submitted by Epic Games in its ongoing lawsuit with the company reveal just how Apple executives have rationalized their decision not to develop a version of iMessage for Android. Apple clearly recognizes the power that iMessage has to keep users...
fake airpods 3

Counterfeit 'AirPods 3' Hit the Market Prior to Official Announcement

Friday April 9, 2021 2:45 am PDT by
Apple is expected to launch the third iteration of AirPods in the third quarter of this year. Rumors and reports suggest the new AirPods will feature an updated design more in line with the AirPods Pro, but lacking in "Pro" features such as active noise cancellation. Despite AirPods 3 not yet being officially announced by Apple, counterfeit products of the unreleased earbuds have already hit ...
nba tracking prompt orange

Two-Thirds of iPhone Users Expected to Block Ad Tracking

Friday April 9, 2021 7:19 am PDT by
As many as 68 percent of iPhone users are expected to deny advertisers permission to track them thanks to Apple's App Tracking Transparency feature, in what is beginning to look like a significant blow to the advertising industry (via AdWeek). With the launch of iOS 14.5, apps will have to receive explicit user permission before accessing an iPhone's advertising identifier or IDFA, which is...
iPhone 13 Battery Life Feature

DigiTimes: iPhone 13 Pro Models to Feature 120Hz ProMotion Refresh Rate and 15-20% Less Power Consumption

Friday April 9, 2021 12:52 am PDT by
The two premium "Pro" models of the upcoming iPhone 13 lineup will be equipped with a low-power LTPO display, enabling the iPhones to have a 120Hz refresh rate, according to industry sources cited by Taiwanese publication DigiTimes. According to today's paywalled report, Apple suppliers Samsung and LG Display are in the process of converting parts of their production capacity to produce LTPO ...
ipad pro and macbook pro

iPad and MacBook Production Reportedly Delayed Due to Global Chip Shortage

Thursday April 8, 2021 2:31 am PDT by
Apple is facing a global shortage of certain components for some of its MacBook and iPad models, causing the Cupertino tech giant and its suppliers to postpone production of the products, according to a new report from Nikkei Asia. According to the report, MacBook production is being hindered due to the shortage of chips mounted onto the circuit board before final assembly, which is a key...
ehric

iPhone 12 Mini Missing From Top 5 Best Selling Smartphone List of January 2021

Friday April 9, 2021 4:58 am PDT by
According to market data compiled by Counterpoint Research, Apple's smallest iPhone since the 2016 iPhone SE, the iPhone 12 mini, struggled to obtain a spot in the top five list of best-selling smartphones in January of this year. According to the market data, the iPhone 12 mini came in eighth place for the best-selling smartphone worldwide in the first month of the year. However, the iPhone ...
tmobile 5g modem

T-Mobile Launches Unlimited 5G Home Internet for $60/Month

Wednesday April 7, 2021 2:18 pm PDT by
T-Mobile today hosted an Un-carrier event where the company announced the launch of a a new 5G home internet plan, which is priced at $60 per month and offers unlimited data. The service is available to more than 30 million Americans across much of the United States, including 10 million households in rural areas not typically able to access reliable broadband. Connectivity will be either 4G ...
apple find my network

Apple Announces Find My Network With Support for Third-Party Devices

Wednesday April 7, 2021 10:06 am PDT by
Apple today announced the launch of its Find My network accessory program, which is designed to allow third-party Bluetooth devices to be tracked in the Find My app right alongside your Apple devices. According to Apple, the first accessory companies to take advantage of the new Find My integration include Belkin, Chipolo, and VanMoof, with devices set to be available beginning next week. ...