Netflix won’t ‘shy away from taking bold swings’ as streaming competition heats up
It turns out Stranger Things isn’t just a popular show, but a key player in Netflix’s growth.
Netflix bounced back from a disastrous second quarter, adding 6.8 million subscribers and bringing in $5.2 billion in revenue over the past three months, up from 6 million subscribers and $4 billion the same time last year. The company now has more than 158 million subscribers worldwide. The numbers suggest that Netflix is seeing a rebound in subscriber growth, even if it’s not as much as Netflix may have hoped.
Following today’s earnings, Netflix’s stock jumped back up, showing a sign of confidence from Wall Street. Netflix’s stock had dropped around 23 percent since its second quarter earnings in July, which marked the first time the company...