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LOS ANGELES — Netflix reported earnings after the bell. Here are the results.
- Earnings per share: $5.40. That may not compare with the $5.12 expected by LSEG.
- Revenue: $9.83 billion. That may not compare with the $9.76 billion expected by LSEG.
- Paid memberships: 282.15 million expected, according to StreetAccount
Active subscriber numbers are expected to be flat for the third quarter, as gains from its crackdown on password sharing start to taper off. This has led some Wall Street analysts to predict that Netflix will soon announce price hikes.
New Street Research analyst Dan Salmon and Morgan Stanley analyst Benjamin Swinburne both noted expected price increase announcements in recent research notes to investors.
As of Wednesday’s close, the company’s stock was up 44% year to date and around 95% over the past 12 months.
This is a breaking news story. Please check back for updates.
Correction: This story has been updated to correct Netflix’s revenue for the third quarter. The company reported $9.83 billion in revenue.