Trading in streaming service Netflix shares on the Nasdaq closed on Friday, October 18, up 11.09%, trading data shows. The day before, the company presented its financial report for the third quarter of 2024, in which it reported revenue growth that exceeded analyst expectations.
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Netflix’s revenue for the third quarter of 2024 amounted to $9.83 billion, financial analysts expected the figure to be $9.77 billion, for the fourth quarter the company expects revenue of $10.13 billion dollars and for the entire year 2024, 38.9 billion dollars.
In addition, the service significantly increased net profit: in the third quarter of 2024 it amounted to $2.36 billion compared to $1.68 billion in the same period of 2023. The quarterly profit figure was a record for Netflix.
Netflix also reported attracting 5.1 million new users, although analysts had predicted an influx of 4.5 million users.
As of May 30, 2022, Netflix does not officially operate in Russia. The company could have disabled the service earlier, but waited until Russian users’ paid subscriptions expired.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
