Netflix Adds 3.57M Subscribers in Q3

Netflix said it added 3.57 million subscribers worldwide in the third quarter, including an additional 37,000 in the U.S.

The net additions were bigger than expected worldwide, but less than forecast in the U.S. by Wall Street.

For the fourth quarter, Netflix is forecasting gains of 5.2 million subscribers worldwide including 1.45 million adds in the U.S. That would be a smaller increase than a year ago, though significantly larger than the third-quarter gain.

From a financial perspective, net income rose to $52 million, or 12 cents a share, from $29 million or 7 cents a share a year ago, exceeding analysts’ forecasts.

Revenue was $2.2 billion, up from $1.6 billion a year ago, topping the $2 billion mark for the first time.

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Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.