1 Must-See Quote in Netflix's Earnings Report
The stock was trading nearly flat after hours as the streaming giant beat its own subscriber guidance and analyst earnings estimates in its third-quarter earnings report; but its guidance for the fourth quarter wasn't quite enough to impress the market, as it called for 8.5 million new subscribers, the same as Q4 2020, after 4.4 million additions in the third quarter. Netflix's shareholder letter touted the company's new content releases, including Squid Game, the surprise Korean hit that garnered 142 million views from Netflix subscribers, making it its most-watched TV show ever. The success of Squid Game underscores one of Netflix's biggest competitive advantages, and one that the market often ignores.
