Netflix Inc added slightly more paying subscribers than Wall Street expected in ...
) added slightly more paying subscribers than Wall Street expected in the third quarter, a relief to investors who had worried the company might fall short just as Disney and others prepare to ramp up the streaming video wars.
The results for July through September represented a rebound from the previous quarter when Netflix lost U.S. streaming customers for the first time in eight years and missed targets for new subscribers overseas. Shares of Netflix rose 9.2% in after-hours trading on Wednesday to $312.69. For the third quarter, Netflix was boosted by new seasons of shows such as “Stranger Things” and “13 Reasons Why.” The company added 6.77 million paid customers around the globe, topping the nearly 6.7 million average expectation of analysts, according to IBES data from Refinitiv.
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