Netflix Adds 3.57M Subscribers in Q3

Stock jumps as earnings exceed Wall Street’s expectations
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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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