Netflix's stock surged 16% due to a 70% spike in subscribers for its new ad-supported tier, adding over 8 million users.
This pushed the global subscriber count to 247 million, marking the largest growth since Q2 2020, a period influenced by pandemic-driven home entertainment demand.
Financially, Q3 earnings exceeded expectations: projected at $3.49, they reached $3.73.
Although the stock previously neared a concerning $300, positive earnings pushed it back up past the $400 level.
Yet, a challenge remains: breaking the $423 resistance level from June 2018.
Still, with a 7% rise in October and a 37% annual increase, the outlook remains optimistic.
This pushed the global subscriber count to 247 million, marking the largest growth since Q2 2020, a period influenced by pandemic-driven home entertainment demand.
Financially, Q3 earnings exceeded expectations: projected at $3.49, they reached $3.73.
Although the stock previously neared a concerning $300, positive earnings pushed it back up past the $400 level.
Yet, a challenge remains: breaking the $423 resistance level from June 2018.
Still, with a 7% rise in October and a 37% annual increase, the outlook remains optimistic.
