October 18, 2024

Netflix Beats Wall Street’s Forecasts Despite Hollywood Strike

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Good morning. Netflix beats Wall Street’s forecasts in every major metric, adding a cool 5 million new subscribers in the third quarter. Israel killed the mastermind of last year’s Gaza terror attack. And there’s a reason you don’t want to be the 800th person in line for the new Ferrari. Listen to the day’s top stories.

Netflix has eclipsed Wall Street’s expectations. The streaming service added more than 5 million customers in the third quarter despite a new programming slate constrained by last year’s strikes in Hollywood. Sales for the period grew 15% to $9.83 billion. Europe, the Middle East and Africa, and Asia-Pacific accounted for almost all of the company’s new customers. Elsewhere, chipmaker TSMC’s shares hit a record high after it topped quarterly estimates and raised its target for 2024 revenue growth.

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