Netflix added 5.1 million new subscribers in the third quarter, beating analyst estimates by more than 1 million.
the Reuters Meanwhile, the company's revenues rose to $9.8 billion, while its operating profit margin reached 30 percent, compared to 22 percent the previous year, according to his report.
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According to the streaming giant, its ad-supported service accounted for more than half of registrations in the countries where it was available in the third quarter.
“On the surface, everything is going in the right direction for Netflix. Financially, revenues and operating margins continue to grow, while expenses are declining,” said Mike Proulx, an analyst at Forrester.
We have a very good feeling about the business. We had a plan to accelerate the business and we executed that plan
– Co-CEO Ted Sarandos commented on the latest results.
In the future, Netflix will try to shift investors' attention from subscription numbers to other metrics, such as revenue growth and profit margins. Starting next year, reporting of subscriber data will be stopped.
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