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Netflix Q3 Earnings Beat Expectations Amid Subscriber Growth

Russell Shor Written by Russell Shor

Netflix reported strong Q3 earnings, with revenue rising 15% year-on-year to $9.83 billion, exceeding analyst expectations. Earnings per share (EPS) reached $5.40, surpassing estimates and marking significant growth from the previous year. The company added 5.07 million new subscribers, bringing the total to 282.7 million, which was above Wall Street forecasts. Its ad-supported tier experienced a notable 35% increase in sign-ups, now accounting for over 50% of new memberships in regions where it's available. Upcoming content, including "Squid Game" Season 2 and a boxing match between Jake Paul and Mike Tyson, is expected to drive further engagement. For Q4, Netflix projects revenue of $10.13 billion and EPS of $4.23, while forecasting 2025 revenue between $43 billion and $44 billion. Growth has been fueled by price hikes and the crackdown on password sharing. Starting in 2025, Netflix will shift its focus to financial metrics rather than subscriber numbers. Following the earnings report, shares rose by 5%.

Russell Shor

Senior Market Strategist

Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.

Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.

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