Netflix posted sharply higher third-quarter earnings Tuesday thanks to a stronger slate of titles, including “Squid Game," the dystopian survival drama from South Korea that the company says became its biggest-ever TV show.
The company said its subscriber base grew 9% from a year earlier, to 213.6 million, surpassing its own projections.
Netflix earned $1.45 billion, or $3.19 per share, in the latest quarter. That's up from $789.9 million or $1.79 per share, a year earlier.
Revenue grew 16% to $7.48 billion from $6.44 billion.
Analysts, on average, were expecting earnings of $2.56 per share on revenue of $7.48 billion, according to a poll by FactSet.
Shares of the Los Gatos, California-based company climbed $4.07 after-hours to $639.
The company made no mention in its earnings press release of the fallout surrounding a recent Dave Chapelle special, which premiered earlier this month after the third quarter ended.
Netflix said Friday that it had fired an employee for disclosing confidential financial information about what it paid for the Chappelle’s comedy special “The Closer,” which employees and advocacy groups condemned as being transphobic and harmful to transgender people.
The employee, who wasn’t named, shared “confidential, commercially sensitive information outside the company,” a Netflix statement said.
The media watchdog group GLAAD said that “anti-LGBTQ content” violates Netflix’s policy to reject programs that incite hate or violence.
However, Netflix co-CEO Ted Sarandos told managers in an internal memo that the show doesn’t cross “the line on hate” and will remain on the streaming service.
Transgender employees and their allies planning to stage a walkout Wednesday in protest.
Hershey is cautioning on its 2024 profit growth as the company contends with rising cocoa costs, leading to increased prices for chocolate. The company anticipates its full-year earnings per share being relatively flat, partly due to higher cocoa and sugar costs.
Prince Harry has reached an out-of-court settlement with a tabloid newspaper publisher that invaded his privacy with phone hacking and other illegal snooping. Attorney David Sherborne said that Mirror Group Newspapers had agreed to pay Harry’ “substantial” costs and damages.
An attorney representing passengers of an Alaska Airlines flight that lost a door plug in midair says a “whistling sound” was heard on a previous flight of the same Boeing 737 Max 9.
What do Arnold Schwarzenegger, Aubrey Plaza, and Tom Brady all have in common? You'll see them on Super Bowl Sunday, but not on the field. If you only watch the Super Bowl for the ads, here's a sneak peek.
The Federal Communications Commission knows (to loosely quote Drake) "when that [AI robocall] hotline bling, that can only mean one thing" — deception. The agency says bad actors have been using these voices to misinform voters.
David Stryzewski, CEO of Sound Planning Group, breaks down Disney’s latest results, from adding Taylor Swift to building out ESPN, and why Bob Iger’s leadership is crucial.
