Netflix rebounds from recent subscriber losses with 3Q gain
2 years, 5 months ago

Netflix rebounds from recent subscriber losses with 3Q gain

Associated Press  

SAN FRANCISCO — Netflix reversed its recent subscriber losses with a summertime gain that management is hoping to build upon with the upcoming launch of a cheaper version of the video streaming service that will include ads for the first time. Netflix now boasts 223 million subscribers, enabling the company to at least temporarily reclaim the mantle as the world’s largest video streaming service. “We are back to positivity.” The uptick in subscribers also helped Netflix earn $1.4 billion, or $3.10 per share, a 4% dip from the same time last year. “Netflix still has a lot of room to grow and capture the share in a price-sensitive market,” Investing.com analyst Haris Anwar said in a sign of renewed optimism about the company’s prospects. Although that would be Netflix’s biggest quarterly gain this year, it would still be down from the 8.3 million subscribers added during the same holiday-season period last year.

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