Netflix Adds 8.8 Million Subscribers in Q3, Announces Price Hikes on Some Plans

Netflix added 8.8 million new subscribers in Q3 2022, reaching 247.2 million total subscribers.

Netflix is raising prices on some plans - $3 increase for Premium plan, $2 increase for Basic plan.

Price increases attributed to adding more value through content quality and cracking down on password sharing.

Netflix reported $1.68 billion in Q3 earnings, up 20% year-over-year.

Netflix stock jumped 12% after announcing earnings and subscriber growth.