By Barbara Ortutay
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.
The big three car companies for GM and Stellantis have agreed to pay striking workers as they spend time on the picket line, according to The Wall Street Journal.
Elon Musk is making a big prediction about artificial intelligence and the jobs market.
Open enrollment season is here and the stress of picking the right plan for you could sometimes get overwhelming. Rosalyn Glenn, financial advisor with Prudential, joined Cheddar News to discuss what to know and understand about selecting your benefits to cover your medical needs and conditions, if any.
Learning about money is a skill that should be learned at an early age. OneMain Financial is now offering a financial course called 'Credit Worthy' across several high schools across the country, along with some scholarships. Doug Shulman, CEO of OneMain Financial, joined Cheddar News to discuss the importance of learning and understanding credit. "Over half of high school students graduate without knowing the basics about credit," Schulman said. "It really helps establish a great foundation to being an independent adult, to have a healthy and happy life, and some financial security is part of that."
Mariah Carey is facing a second lawsuit claiming copyright infringement over her song, "All I Want For Christmas is You."
Apple posted better-than-expected results for the third quarter but continued to report soft revenue. Cheddar News breaks it all down.
Thousands of hospitality workers across 18 casinos in Las Vegas have announced they are set to strike if a new contract agreement is not reached by Friday, November 10.
Mariah Carey, the 'Queen of Christmas,' is teaming up with Victoria's Secret for a new holiday collection.
Stocks jumped Friday after a jobs report showed a higher slowdown in hiring, giving hope to an end in rate hikes.
A new study found greater productivity in companies with a higher gender balance.
