Netflix: revenues up 22% on increased subscriptions
(CercleFinance.com) - Netflix's revenues reached 6.
43 billion dollars in Q3, up 22.7% y-o-y (5.24 billion dollars a year ago). Net income rose to 790 million dollars, with adjusted EBITDA of 1.45 billion dollars. Q3 EPS came in at 1.74 dollar.
However, Netflix notes a slowdown in growth in the third quarter, with 2.2 million new subscriptions compared to 6.8 million in the third quarter of 2019. Yet, in the first nine months of the year, Netflix recorded more new subscribers (28.1 million) than over FY 2019 (27.8 million).
For Q4, Netflix expects to record 6 million new subscriptions, saying that if it meets its forecast, this would provide it with a record 34 million net paid adds for 2020.
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