(New York) The streaming platform Netflix published better-than-expected third-quarter results on Wednesday, with a net increase in subscribers of more than 10% year-on-year, a publication that propelled the stock of the group.
From one quarter to the next, the Los Gatos (California) giant gained 8.76 million subscribers, reaching 247.1 million at the end of September.
Netflix also raised its operating margin forecast for its entire 2023 financial year, to 20% now, the top of the initially targeted range of between 18% and 20%.
The online video service sees it improve significantly further in 2024, between 22% and 23%.
These cannonball results propelled the stock, which rose more than 12% in electronic trading after the close on Wall Street.
Over the three months from July to September, net profit was up 20%, to $1.6 billion. Turnover increased by nearly 8%, to $8.54 billion.
Netflix puts the jump in subscribers down to its content and the rise of streaming on a global scale, but also to the success of its new pricing for accounts shared between several users.
At the end of May, the platform implemented this billing for sharing identifiers with people who are not members of the household in around a hundred countries. According to Netflix estimates, before this development, more than 100 million households let other people use their account.
The group indicates that the subscription cancellation rate linked to this billing “remains low, below what we anticipated”, according to the press release. Furthermore, the proportion of people switching from using identifiers from another household to a paid subscription is “significant”.
Netflix took advantage of the publication of its results to announce an increase in some of its prices in the United States, the United Kingdom, and France.
In detail, the price of the basic offer (basic or essential) has increased, as has that of the Premium formula, while the versions with advertising and standard remain unchanged.
Netflix thus deliberately keeps the price of the offer with advertising low, which constitutes a flagship product for people who are not yet subscribed to the platform.