Netflix Inc. announced on Thursday that its third-quarter revenue increased by 15% compared to the corresponding quarter a year before, coming in at $9.8 billion.
The company posted a net income of $2.4 billion, a significant rise from last year’s $1.7 billion, while diluted earnings per share climbed to $5.40, up from $3.73. Operating income saw a sharp 52% year-over-year growth, hitting $2.9 billion. In the same quarter, the streaming giant's global paid membership base surged by 14.4%, reaching 283 million subscribers.
"As we look ahead to 2025, we’re focused on improving every aspect of our service and continuing to deliver healthy revenue and profit growth," Netflix said. The streaming service giant forecasted a 15% increase in its closing quarter revenue.
The company's stock jumped by 4.66% after the earnings announcement.