Call it the 'Squid Game' effect. After two quarters of somewhat sluggish subscriber growth, Netflix is back on track.
After two quarters of somewhat sluggish subscriber growth, Netflix is back on track.The streaming service reported Tuesday that it now has 213 million subscribers globally, after adding 4.4 million subscribers in the third quarter of 2021, a number that beat its own expectations. In more good news for the company, it also reported a solid forecast of 222 million subscribers for the next quarter.
Netflix's third quarter profit this year was $1.4 billion, up from $790 million in the year-earlier quarter. Its revenue jumped 16%, to $7.4 billion. Read MoreAll in all, it was a strong showing for Netflix at a time when it's riding the wave of"Squid Game" — a fictional drama from South Korea that has taken the streaming world by storm since its September debut.
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