Netflix’s shares went up a little bit after-the-bell on Tuesday because the company posted third-quarter results. People were happy to see that Netflix has a lot of new subscribers.
- Earnings per share (EPS) is $3.19. This is more than the EPS of the last
- the year which was $2.56, according to a survey of analysts by Refinitiv.
- Revenue: $7.48 billion USD vs. $7.48 billion USD, according to Refinitiv.
Global paid internet subscribers: 4.4 million new subscribers vs. 3.84 million new subscribers, according to StreetAccount.
The subscriber growth for the fourth quarter was good. Analysts thought that people would come to the streamer when it started to put out new content, but they did not know how many. The company said it expects to have 8.5 million new subscribers this quarter. Netflix added that it is going to have a normal release schedule for the year 2022, barring any Covid-related delays.
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Netflix is changing the way it reports how many people watch. It will report how many hours are watched, not how many accounts that watched. This company has a movie called “Extraction.” There are 99 million accounts who watched at least two minutes of it in the first 28 days. Another movie is “Bird Box,” and it is the best with 282 million hours in its first 28 days.
The company told investors in a letter that the new metrics match how outside services measure TV viewing and give credit to people who watch things again.
Netflix will release information about its titles more often. The company gave the nod to the show that is the best of the quarter. Netflix said that “Squid Game” was its biggest TV show yet. The company said 142 million member households watched the show in four weeks. The company also said that this show is an example of culture.
“Like some of our other big hits, Squid Game has also pierced the cultural zeitgeist, spawning a Saturday Night Live skit and memes/clips on TikTok with more than 42 billion views,” the company said. Demand for consumer products related to the show is high.
Netflix told investors that they are testing their games in different countries, but “it is very early for this initiative.” Netflix will have games, and they will not include ads or in-app purchases.