What's Going On With Netflix Shares

Netflix Inc NFLX shares are trading higher by 6.43% to $285.42 Friday afternoon on continued strength after the company reported better-than-expected third-quarter results earlier in the week.

What Happened?

Netflix reported better-than-expected third-quarter results this week and reported global streaming paid net additions of 2.41 million. Global streaming paid memberships grew 4.5% year over year.

The company announced third-quarter revenue of $7.93 billion, up 5.9% year-over-year. The total came in ahead of a Street estimate of $7.84 billion, according to data from Benzinga Pro.

The company posted third-quarter earnings per share of $3.10, beating a Street estimate of $2.13. In the third quarter, Netflix said it gained 2.41 million net new subscribers...Read More

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Netflix has a 52-week high of $700.99 and a 52-week low of $162.71.