Surprise Netflix on Wall Street. The streaming movie and TV series platform is back to growth and the stock soared nearly 20% in the after hours. In the third quarter, the company scored above estimates, also beating analysts' forecasts on the number of subscribers, after which for months had continued to increase at a very slow pace.
In detail, between July and September Netflix recorded to evaluate for $51,5 million (12 cents a share), up from $40,75 million (9 cents a share) in the same period in 2015. Analysts were expecting 6 cents a share.
On the front of revenues, Netflix hit $2,29 billion, up from $2,1 billion in the same period a year earlier. Consensus was set at $2,28 billion.
But what gave the group the biggest boost came from the growth data identification: Added 3,57 million new subscribers, versus a firm target of 2,3 million people. A very good result especially after last quarter the Californian company had achieved the weakest growth of the last two years.
