Netflix Shares Surge After Strong Earnings Beat and Nearly 9M New Subscribers
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Netflix shares jumped as much as 18% on Thursday, adding $28 billion in market value after strong earnings.
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Netflix posted Q3 revenue of $8.54 billion, in line with expectations, and EPS of $3.73, beating forecasts.
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The company added nearly 9 million new subscribers, its best quarter since the pandemic began.
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Netflix attributed subscriber growth to cracking down on password sharing and introducing an ad-supported plan.
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Big hits like "One Piece" and "Suits" helped attract and retain paying subscribers this quarter.