The shares listed on the Nasdaq soared 2.8% in the ‘after market’. The papers closed at US $ 639.68 and after publishing the third quarter report they rose to US $ 657.88; although later they retreated.
“We are very pleased to end the year with what we expect to be our strongest content offering in the fourth quarter, which translates into higher content spending and lower sequential operating margins,” Netflix said in its report.
The company cited among the programming successes the new Korean series “The Squid Game”, as indicated, this content reached 142 million homes since September 17, “It has become the most watched series in history,” Netflix says in the report.
“The Squid Game” debuted on September 17. The drama tells the story of people who compete to the death to erase their financial debt. The series topped Netflix viewing charts in several countries, boosted sales of Vans sportswear and sneakers, and sparked interest in learning Korean.
The excitement surrounding “The Squid Game” is also expected to drive the current quarter.. Netflix projected it will attract 8.5 million new customers by year-end, ahead of industry forecasts of 8.33 million., as the pace of new releases accelerates.
Upcoming releases include the big-budget action movie “Red Notice” and the second season “The Witcher.”
Before the earnings report, Netflix shares were up about 22% this year and are trading near all-time highs., but its advance is behind the Nasdaq’s 54% increase.
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
