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Netflix Adds 5.3 Million Global Subscribers in Q3, Crushes Growth Predictions

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Netflix is on track to exceed $11 billion in revenue this year. According to the company’s Q3 earnings report, Netflix is “growing nicely across the world” and that “internet entertainment is delighting consumers”.

Despite recent subscription price hikes, Netflix has over 109 million subscribers, and remains clearly on top of the video streaming market.

The company added 5.3 million new subscribers globally this quarter (up 49% year-over-year), beating its own predictions of 4.4 million new subscribers. Netflix stated that it under forecasted both U.S. and international customer acquisition.

“We continued to benefit from a strong appetite for our original series and films, as well as the adoption of internet entertainment across the world.”

Eyebrows raised when Netflix upped the cost of its subscriptions last week, but the move didn’t backfire as the company’s shares hit an all-time high on Friday, briefly surpassing $200 for the first time ever.

[via Business Insider]

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