Online streaming is making a comeback. Netflix (NFLX) reported its latest quarter subscriber and user growth numbers had far outweighed Wall Street's expectations.
The company known for hits such as Stranger Things and Comedians in Cars Getting Coffee, brought on 6.96 million total new streamers, which beat its own guidance of 5 million for the quarter. Netflix also issued guidance saying it would add 9.4 million new members in Q4 of this year.
Netflix also reported earnings of 89 cents per share on revenue of $4 billion, which was in line with analysts’ revenue estimates, and beating earnings expectations of 68 cents per share. Streaming revenue grew 36% year-over-year, while global users hit 130 million paid and 137 million total members.