Record Profits Boost Stocks to All-Time Highs

Netflix reported its most profitable quarter ever in Q3 2024, beating analyst expectations with earnings per share of $5.40 versus estimates of $5.12. The streaming giant’s revenue of $9.83 billion also beat forecasts, driven by strong subscriber growth. This exceptional performance saw Netflix shares soar to a new all-time high of $764.82, marking an 11% increase and securing its position as the best performer on the Nasdaq 100.

Growth and Future Strategy

The company’s success is attributed to its effective handling of password sharing issues and the introduction of an ad-supported subscription model, which accounted for more than half of new signups across available markets. Looking ahead, Netflix plans to significantly expand its content offering, including sequels to highly anticipated series. Although analysts remain optimistic about the company’s growth potential, they warn investors about the high valuation of the shares and the potential challenges if growth slows in the coming months.

Announcement

Netflix Stock: New Analysis – October 19

New Netflix information released. What is the impact for investors? Our latest independent report examines recent figures and market trends.

Read our updated Netflix review…