Netflix is still the online streaming giant to beat in 2024. The company has just reported rather impressive Q3 earnings, just barely surpassing analyst expectations on both earnings per share and overall revenue. More specifically, Netflix reported that its memberships grew by about 35 percent quarter over quarter, with its special “ad tier” memberships accounting for more than 50 percent of new signups where the option is available to users.
For Q3 2024, Netflix reported earnings per share of $5.40, which narrowly beat the expected earnings per share of $5.12 given by analysts. Meanwhile, the company’s revenue also exceeded forecasts, totaling $9.83 billion instead of just the $9.77 billion that was expected. Netflix now has 282.7 million paid memberships worldwide, growing by 5.1 million in Q3, which was more than the 4.5 million that analysts anticipated.
The variety of offerings available on Netflix Philippines may not quite be as impressive as it is on other countries and regions, but the programming is at the very least solid. Local viewers have access to sleeper hits Rebel Ridge and Officer Black Belt, and are likely among those who will get first dibs on upcoming new seasons of hit shows like Squid Game. It’s no wonder the company has done so well for itself lately – Netflix has been doing things right by their viewers. Time will tell whether they are able to keep all this up – especially if they ever introduce the ad-supported membership tier here as they do in other locations.
Source CNBC
