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
75 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
75 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
75 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
75 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
75 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)
Juicy Box Avatar
75 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)

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