#NetflixQ32024 #AdSupportedGrowth #StreamingEarnings
Netflix's Q3 2024 Earnings: A Strong Performance Driven by Ad-Tier Growth
Netflix ($NFLX) has released its third-quarter earnings for 2024, and the results are impressive. Here are the key highlights that make this quarter stand out:
Revenue and Earnings
Netflix reported revenue of $9.83 billion, surpassing the expected $9.77 billion. Earnings per share came in at $5.40, exceeding the anticipated $5.12.
Subscriber Growth
The company's paid memberships reached 282.7 million, slightly above the expected 282.15 million. This growth, though modest, indicates a steady expansion of Netflix's user base.
Ad-Tier Success
One of the most significant aspects of Netflix's Q3 performance is the substantial growth in its ad-supported tier. Memberships for this tier increased by 35% compared to the previous quarter. This robust growth underscores the increasing appeal of Netflix's ad-supported option, which is set to be introduced in Canada soon and will see a broader rollout in 2025.
Future Outlook
For the fourth quarter, Netflix expects revenue to reach $10.13 billion and earnings per share to be $4.23. This optimistic outlook suggests continued momentum for the company as it navigates the evolving streaming landscape.
Market Impact
The success of Netflix's ad-tier and the overall strong earnings report are likely to have a positive impact on investor sentiment. As the company continues to innovate and expand its services, it remains a key player in the competitive streaming market.
Original Article: Netflix (NFLX) earnings Q3 2024 – CNBC
Leave a Reply