Netflix crushed its Q3 subscriber growth targets, blowing past them on both the domestic and international fronts by adding 5.3 million total.
Netflix blows past subscriber growth targets, and hits an all-time high (NFLX)
Netflix will report its Q3 earnings after the bell on Monday. Wall Street is expecting Netflix to beat its guidance on most markers.
The streaming giant beat slightly on revenue as well, though it turned in lower EPS than Wall Street was expecting.
The stock was up around 3% in the immediate aftermath of the news. (It had closed at a record high of $202.68 going into earnings.)
This beat on subscriber targets is an encouraging sign for investors, since Netflix recently started its first price hike since 2015, which some worried might weigh down growth. However, lower-than-expected US subscriber growth guidance for Q4 might signal that the price bump could still have some negative effect.
This is especially important because Netflix may have to continue to raise prices in the future to fund its massive investment in programming — which will be $7 to $8 billion in 2018, according to Netflix's letter to shareholders.
Here were the key numbers from Netflix's Q3 earnings: