Netflix Q3 Subscriber Count Surges Unexpectedly

[Image source=Reuters Yonhap News]

The world's largest online video service (OTT), Netflix, significantly increased its number of new subscribers in the third quarter due to the expanded ban on account sharing.

On the 18th (local time), Netflix announced its third-quarter earnings, reporting revenue of $8.542 billion (approximately 11.6 trillion KRW), up 7.8% from the same period last year, and operating profit of $1.916 billion (approximately 2.6 trillion KRW), up 25%.

Net profit was $1.677 billion (approximately 2.3 trillion KRW), a 20% increase compared to $1.398 billion in the same period last year. Adjusted earnings per share were $3.73.

The number of new subscribers also showed a surprising increase. As of the end of the third quarter, Netflix's total global subscribers reached 247.15 million, nearly 11% higher than a year ago.