On Early Thursday, Netflix the stock went up almost 13.4% at 5:30 a.m. E.T as Netflix shares rose in premarket trade.
Netflix reported a significant amount of subscriber growth of 8.8 million nailing down the expectation to become one of the top performing in the current quarter.
During this quarter, Netflix created an environment where the household can access with one account. The streaming platform also suggested to users that they should pay less if they want to watch advertisements before and after the shows.
This little tweak in the subscription model has impacted the subscriber’s growth.
In this third quarter, earnings came in at $8.542 billion, representing year-on-year growth of 7.8%. Net income rose to $1.677 billion.
Over the period of the year, nearly 30% rise in revenue as compared to last year as the streaming space is becoming competitive, there are other rivals that competing with Netflix in the streaming space.
