The famous online streaming platform Netflix has announced its earnings results which beat all the expectations.
Netflix’s global subscriber’s increase has beat analysts’ expectations. The expectation was that the subscriber’s range would go down as pandemic has affected the media industries and content providers, but the results came out totally opposite.
The company recorded earnings per share (EPS) of $3.19 as against the $2.56 that analysts had expected. Revenue was on point with expectations of $7.48 billion. The interesting fact was that its global subscribers increased to 4.4 million.
Moreover, analysts believe that the availability of new content has pushed people back to the streaming sites as the cinemas and other ways were close to reaching content during the pandemic.
Netflix also made slight changes to its viewership following its successful hit “Squid Game” which resulted in over 142 million views in about a month. Netflix told investors about its new metrics that, “matches how outside services measure TV viewing and gives proper credit to re-watching”.
Read also: ‘Squid Game’ to create almost $900 million for Netflix
While talking about its biggest hit Netflix adds that, “Like some of our other big hits, Squid Game has also pierced the cultural zeitgeist, spawning a Saturday Night Live skit and memes/clips on TikTok with more than 42 billion views.”
In addition, Netflix has high hopes for the next quarter, as it expects to add 8.5 million subscribers in the fourth quarter. The famous streaming site is also going to launch into a gaming sector as the authorities said that, it has already begun testing its games in selected countries.
