November 27, 2022

Netflix recovers subscribers after a nightmare year

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(CNN) — After a nightmarish year marked by losing subscribers, Netflix seems to be back on track, in a big way.

The streaming company reported Tuesday that it achieved 2.4 million subscribers in the third quarter of 2022, a number that far exceeded expectations of 1 million subscribers for the quarter. In more good news, it is likely to add 4.5 million subscribers for the fourth quarter, which is also above what investors were expecting.

In short, it seems that Netflix has grown again. It currently has 223 million subscribers worldwide.

The news sent the company’s shares up 12% on Tuesday in after-hours trading.

This is a developing story.



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