The numbers are likely to restore investor confidence in the streaming service, which when reporting second-quarter earnings in July fell short of analysts' forecast for new subscribers by more than 1 million. Sales growth has accelerated in recent years, jumping to 32% growth last year from 23% in 2015.
"Heavy investment in content means free cash flow is still negative, but after a disappointing second quarter this release was all about subscriber growth", he said. In the third quarter, it released its largest slate of original TV shows and movies to date, including new seasons of hits such as "Orange is the New Black" and "BoJack Horseman". The company added 998,000 paid memberships in the United States, and 5 million in the global market this quarter. Netflix launched its first Indian original show "Sacred Games" in July and followed it up with "Ghoul" in August.
Netflix is investing more than $8bn in entertainment programming this year to lure new customers around the world.
Netlix shares surged more than 11 percent after the online TV service reported crowd-pleasing quarterly results after the market closed on Tuesday.
The company has been one of the world's best-performing stocks because investors believe it has years of growth ahead. By the end of the year, Netflix expects to expand that base to 146.5 million. The company also gave an upbeat forecast for the fourth quarter, sending the shares soaring in extended trading.
Case Of Polio-Like Illness Acute Flaccid Myelitis Confirmed In Mass.
For example, the CDC doesn't know who may be at higher risk for developing AFM or why some are at higher risk, she said. But mysteriously no other country has reported the emerging every-two-years pattern seen in the U.S., Messonnier said.
That helped lift profit more than threefold to 89 cents a share, beating the 68-cent average of analysts' estimates.
For now, Netflix said it was "super encouraged with India" and the growth that they have got early on but the company is aware that it's going to be somewhat of a tough market going ahead right. Streaming revenue surged 36%, reaching almost $4 billion in the quarter - a performance that matched Wall Street's forecasts of $4 billion. "This quarter, we under-forecasted memberships", Netflix said in a letter to shareholders. Disney and AT&T Inc, the parent of Warner Bros. and HBO, are each looking to introduce new services next year - after completing takeovers of other companies worth a combined $160 billion.
"More than 80 million accounts have watched one or more of the Summer of Love films globally and we are already in production for the next set of original rom-coms for our members", Hastings wrote.
"That's going to make it exciting for us, great for consumers and incredible for producers", he said.