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Truth Ultimate > Blog > NEWS > Business > Netflix’s Soaring Success: A 16% Surge in Stock Value and Record Subscriber Growth
Business

Netflix’s Soaring Success: A 16% Surge in Stock Value and Record Subscriber Growth

Mrs. Rashmi
Last updated: 2023/10/20 at 9:53 AM
Mrs. Rashmi
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netflix Shares Jump 16%
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Contents
Shares Jump 16% as Earnings Top EstimatesSignificant Subscriber Resurgence Buoys ResultsAd Tier Success Provides New Revenue StreamBullish Analysts Upgrade Stock on Future Potential


Netflix shares soared 16% on Thursday after the company reported better-than-expected third-quarter earnings results. The streaming giant saw successes across key metrics, including a 70% increase in its new ad-supported subscription offering.

Shares Jump 16% as Earnings Top Estimates

Overall subscribers also beat estimates, with Netflix adding 8.76 million in Q3 – its biggest jump since early 2020 at the height of the pandemic.

The strong report extends Netflix’s rebound after it lost subscribers for the first time in over a decade in Q2 2022, sparking saturation fears. With momentum regained, multiple analysts expressed optimism.


Significant Subscriber Resurgence Buoys Results


A key factor in the earnings beat was Netflix’s recovering subscriber momentum after recent declines. The 8.76 million added smashed projections of 5.49 million.

Netflix also saw a boost from its password-sharing crackdown, which analysts believe will continue assisting growth into 2024.

The subscriber resurgence indicates Netflix is back on solid ground after its first net loss in 10+ years raised doubts about market saturation.


Ad Tier Success Provides New Revenue Stream


Netflix’s fledgling ad-supported tier also drove strong Q3 performance, jumping 70% ahead of expectations. While still early, the impressive ad tier adoption demonstrates its potential as an added revenue driver.

Combined with the subscriber rebound, it highlights Netflix’s levers to accelerate top-line growth.


Bullish Analysts Upgrade Stock on Future Potential


In light of the results, multiple analysts upgraded Netflix shares and boosted price targets. Morgan Stanley praised the progress towards Netflix’s growth and margin goals. Truist sees the upside ahead from password-sharing benefits and advertising.

KeyBanc believes coming pricing initiatives coupled with the $10 billion buyback authorization will further boost Netflix in 2024. The quarter renewed Wall Street’s confidence in the company’s trajectory after recent headwinds.


The better-than-expected third quarter performance shows Netflix regaining its footing after recent challenges. With initiatives like the ad tier and password sharing crackdown paying off, and subscriber growth reaccelerating, the company seems poised to sustain its momentum into 2023 and beyond.

Mrs. Rashmi

Mrs. Rashmi

Mrs. Rashmi is a dedicated scholar and practitioner with a profound passion for the natural world and holistic well-being. Holding a Master of Science degree in Zoology, she has delved deep into the intricate intricacies of the animal kingdom, fostering a keen understanding of biodiversity and ecological dynamics. Currently, Mrs. Rashmi is fervently pursuing her Ph.D., further expanding her knowledge and contributing to the realm of scientific research. Beyond her scientific pursuits, Mrs. Rashmi possesses an additional reservoir of knowledge in the realm of Ayurveda, an ancient holistic healing system originating from India. Her in-depth understanding of Ayurvedic principles and practices showcases her commitment to a holistic approach to health and well-being.

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