Netflix reported its most profitable quarter ever in Q3 2024, surpassing analyst expectations with earnings per share of $5.40 against estimates of $5.12. The streaming giant's revenue of $9.83 billion also exceeded forecasts, bolstered by strong subscriber growth. This exceptional performance sent Netflix shares soaring to a new record high of $764.82, marking an 11% increase and securing its position as the top performer in the Nasdaq 100.
Future Growth and Strategy
The company's success is attributed to its effective handling of password sharing issues and the introduction of an ad-supported subscription model, which accounted for over half of new sign-ups in available markets. Looking ahead, Netflix plans to significantly expand its content offerings, including highly anticipated series continuations. While analysts remain optimistic about the company's growth potential, they caution investors about the stock's high valuation and potential challenges if growth slows in the coming months.
Ad
Netflix Stock: New Analysis - 19 OctoberFresh Netflix information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
Read our updated Netflix analysis...