LOS ANGELES – Netflix picked up 5.1 million streaming subscribers in the third quarter, topping Wall Street estimates by more than 1 million, and said it expected higher customer growth around the holidays when Korean drama “Squid Game” returns.
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LOS ANGELES – Netflix picked up 5.1 million streaming subscribers in the third quarter, topping Wall Street estimates by more than 1 million, and said it expected higher customer growth around the holidays when Korean drama “Squid Game” returns.
Shares of Netflix rose 4.8% in after-hours trading on Thursday following the earnings report. The shares have gained about 47% so far this year.
As the pace of subscriber addition slows, Netflix has been trying to shift investor attention away from sign-ups to metrics including revenue growth and profit margins. It will stop reporting subscriber data from next year and is touting growth in its ad-supported plans.
The streaming giant said on Thursday its ad-supported service accounted for more than 50% of signups in the third quarter in countries where it was available.
Wall Street had expected Netflix to bring in 4 million…