Netflix grows to 158 million subscribers in Q3

Brenda Watkins
October 18, 2019

Earnings per share checked in at $1.47 versus $0.89 generated during the same period a year earlier.

Netflix's stock surged after strong third-quarter earnings on Wednesday, which was a welcome development considering the market's vicious reaction to the company's disappointing report the prior quarter.

Another house, Needham, projected the company would lose 10 million of its roughly 60 million US subscribers over the course of 2020 unless it lowers prices, and several analysts noted the company's own "prudent" estimates for subscriber growth into the end of 2019.

"The fourth quarter represents a completely new ballgame for Netflix as Disney+ and Apple TV+ will compete not just for subscribers, but for hit shows as well", Haggstrom said.

Netflix says the launch of competitors' streaming services will be "noisy" but ultimately there are enough eyeballs to go around as consumers transition from linear TV and cable subscriptions.

Netflix added 6.8 million subscribers worldwide from July through September, below the 7 million customers forecast by the Los Gatos, Calif., company.

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“As weve improved the variety, diversity and quality of our content slate, member engagement has grown, revenue has increased, and were able to further fund our content investment, ” said Netflix in its October 16 shareholder letter.

The latest sign of the challenges the company is facing emerged Wednesday with the release of its third-quarter results. The company continues to invest billions in original content, and as any Netflix subscriber will tell you, original content is the biggest draw to the service.

Apple Inc also will debut a much smaller streaming video service with original programming in November. "There may be some modest headwind to our near-term growth, and we have tried to factor that into our guidance", admitted Netflix, while setting out its stall in defence. Not just its competition, but the competition of all streaming services.

Netflix also rolled out a new lower-cost plan in India for mobile devices.

"Netflix is going to lose 50 per cent of its most-viewed hours during the next two years", Pachter said. The corporate figured 6.77 million paid prospects all through the globe, exceeding the practically 6.7 million widespread expectations of interpreters. While more competitors are entering the streaming market, Netflix is focusing on its unique selling proposition and doing what it does well, not getting as hung up about the competition as others seem to be.

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