Netflix Beats Wall Street’s Forecasts in Every Major Metric
- New subscribers top 5 million, beating Wall Street estimates
- Sign-ups this quarter are expected to top the previous period
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Netflix Inc. shares soared to a record high after the streaming company added more than 5 million customers in the third quarter and eclipsed Wall Street’s expectations on every major financial metric.
Sales for the period grew 15% to $9.83 billion, the company said in a Thursday, while earnings increased to $5.40 a share. Analysts were predicting Netflix would add 4.52 million subscribers.