Netflix Soars on Strong Subscriber Growth Despite Imminent Price Hikes

Netflix added nearly 9 million new subscribers globally in Q3 2022, leading to strong revenue growth.

The company is raising prices for some plans in the U.S., U.K., and France, with the premium no-ads plan now $22.99/month in the U.S.

Crackdown on password sharing is leading to first full quarter under new rules, showing impact of fewer shared accounts.

Ad-supported plan subscribers up 70% quarter-over-quarter. Ads contributing to bottom line.

Share price up 13.75% pre-market on strong earnings, despite imminent price hikes likely frustrating some subscribers.