HomeEconomyNetflix reverses subscriber slump, shares soar 10% Economy Netflix reverses subscriber slump, shares soar 10% By inew October 18, 2022 0 137 views Share FacebookTwitterPinterestWhatsApp DIS +1.00% ) add to /Remove from watchlist Add to watchlist Add Job Job added successfully: Please name your portfolio type: purchase Sell date: ) quantity: price Point Value: Leverage: 1:1 1: 1: 1: 1: 10 1: 00 1: 50 1: 52 1: 223 Committee n: CREATE NEW WATCH LIST CREATE CREATE NEW HOLDING PORTFOLIO ADD CREATE 20222022 + Add another position to close 2022 NFLX 13063-1. 10% 6382 Add to/Remove from watchlist Add to watch list Add Location Job added successfully: Please name your h Seniors Portfolio type: purchase Sell date: quantity: price Point Value: Leverage: 1:1 1: 1: 1:1: 1: 1: 11 1: 50 1: 25 Committee: CREATE NEW WATCH LIST CREATE 2022 create new holding portfolio add create 130632022 + Add another position to close 13063 WBD +4.18% 265 Add to/Remove from watchlist Add to watch list Add Job Job added successfully: please enter Name Your Portfolio type: purchaseSell date: quantity: price Point Value: L forever: 1:1 1: 1: 1: 1: 1: 1: 11 1: 25 1: 25 Committee: 2022 CREATE NEW WATCH LIST CREATE 2022 create a new holding portfolio add create + Add another position to close Lisa Richie mild Dawn Chimilewski LOS ANGELES (Reuters) – Netflix Inc reverses customer churn Offering a slightly more optimistic outlook than Wall Street expected, the new ad-supported streaming option is expected to help attract 4.5 million subscribers by the end of the year. Netflix stock (NASDAQ: NFLX ) jump up % reached $ in after-hours trading on Tuesday .. The company’s stock, an investor favorite during its high-growth years, is nearly down % Before this year’s earnings report. From July to September, Netflix attracted 2.4 million new subscribers worldwide, more than double the number in January . million consensus forecast of analysts surveyed by Refinitiv. This quarter, Netflix released the sci-fi hit Stranger Things and the serial killer series Dahmer-Monster: Jeffrey The final episodes of The Dahmer Story became one of the most-watched series ever on Netflix. After a sudden decline in the first half of the year, the streaming giant is trying to kickstart membership growth this year amid a turbulent global economy and a slump in online video viewership. The company’s user base shrank by 1.2 million amid increasing competition. Netflix now has a total of .1 million global subscribers. Most mature services have stopped growing in the US and the market has matured in the US. New entrants, such as Paramount Global’s Paramont+, are grabbing market share thanks to live sports. In its quarterly letter to shareholders, Netflix pointed to rival media companies that they Trying to attract streaming audiences is losing money. “Our competitors are investing heavily to drive subscribers and engagement, but build a large, successful streaming business not easy,” the letter said. Netflix estimates competitor will end 18 Consolidated operating loss “much more than $ billion”, while Netflix’s annual operating profit is $5 billion to $6 billion. In the third quarter, Netflix beat Wall Street estimates with $7.9 billion in revenue, up 6% year over year. The income is $3. per share. The company predicts the end of 4.5 million customer pickups 1000 was slightly higher than the average Wall Street estimate of 4.2 million. Netflix expects fourth-quarter revenue of $7.8 billion — a sequential decline due to a stronger dollar. Netflix launches $7-monthly streaming plan and ads in early November to attract cost-conscious customers that executives have long resisted action. Walter 400200 Disney (NYSE: DIS) Corporation, Warner Bros. Discovery Inc. (NASDAQ: WBD) and others also offer or plan to offer ad-supported options to compete for audiences. While Netflix is making various changes to drive growth, the company says it remains committed to releasing all episodes at once to Binge viewing is allowed. “We believe in the ability to take our members from start to finish Being immersed in a story increases their enjoyment and the likelihood that they will tell their friends, which means more people watching, joining and staying on Netflix,” the company said. The new season of British royal drama “The Crown” and sequel movie “Knives Out” will also be released in the fourth quarter. 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