STREAMING

Netflix more than triples profits and "reassures" Wall Street

After investors saw their shares fall 14% in recent months, the streaming service seems to be backfiring bad results on the stock exchange with a seven million increase in new subscriptions when Wall Street predicted an average growth of 5.2 millions.Netflix now has a global customer base of 137 million, confirming its position as the world's largest streaming service, Reuters reports.This increase in subscribers results from an investment in new programming, a bet Netflix intends to follow by investing more than $ 8 billion to attract new customers around the world.As a result, the company achieved about 1.1 million new subscribers in the US, above the estimated 674,000, and a total of 5.9 million subscribers internationally, compared to the average forecast of 4.5 million. In the current quarter, Netflix is ​​predicted to add 1.8 million customers in the United States and 7.6 million in international markets.As for net income, the company rose to $ 402.8 million, or 89 cents a share, in the third quarter ended September 30, up from $ 129.6 million, or 29 cents per share, in the same period . The analysts' average estimate was 68 cents a share, according to Refinitiv.In relation to total revenues, there was an increase to 4 million dollars, in line with the average forecast of analysts. In the same period last year, revenues were $ 2.98 billion.



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