The company brought in $8.54 billion in revenue last quarter, boosted by higher-than-expected growth of its membership base. Earnings per share for the quarter came in at $3.73.
In a letter to shareholders, Netflix called the last six months “challenging” given this summer’s writers’ guild and actors’ guild strikes. On Netflix’s third-quarter earnings call, Ted Sarandos, the company’s co-CEO, said the company is “totally committed” to ending the actors strike after an agreement with the writers guild was reached last month.“The industry, our communities and the economy are all hurting,” Sarandos said Wednesday.
“Games is a huge entertainment opportunity,” Peters said. “From a strategic perspective, we believe we can build games into a strong content category, leveraging our current films and series.”Netflix last raised prices in January 2022, but its biggest competitors have all raised prices since then. Disney+ in August– for the second time this year. The company also raised Hulu prices. And Max, owned by CNN parent company Warner Bros.
On the company’s earnings call, Peters said the company plans to eventually offer an even wider range of price points for Netflix subscriptions to grow its subscriber base.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Netflix Reports Earnings Today. What to Expect.Paid subscription net adds were 8.8 million versus Wall Street's 6.1 million estimate.
Read more »
Netflix Q3 2023 Earnings Report UnveiledThe streaming giant reported its third-quarter earnings Wednesday afternoon.
Read more »
Netflix Earnings: User Growth to Prove Recent Correction Was a Buying OpportunityStocks Analysis by Investing.com (Damian Nowiszewski) covering: Netflix Inc, Netflix Inc, Netflix Inc DRC, COMMERZBANK AG Call 92 USD Netflix Inc 31Dec99. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Read more »
Netflix Reports Earnings Today. Growth Is a Risk.Investors expect Netflix to give updates about its ad subscription plan and pricing strategy after the market close.
Read more »
Mid-East tensions, Chinese GDP, Netflix earnings - what's moving marketsMid-East tensions, Chinese GDP, Netflix earnings - what's moving markets
Read more »
Mid-East tensions, Chinese GDP, Netflix earnings - what's moving marketsMid-East tensions, Chinese GDP, Netflix earnings - what's moving markets
Read more »