Netflix’s stellar year continued this week with news that it added 5.3 million subscribers to its service in the third quarter. Analysts were expecting a net addition of just 4.5 million customers.
Third quarter subscription additions were up 49 percent year-over-year.
Around 850,000 new members were from the US with the remaining haul coming courtesy of international users.
The streaming media titan now enjoys roughly 109.3 million subscribers worldwide. By comparison, the company had around 86 million subscribers in the year-ago period.
The only blemish on Netflix’s Q3 report came in the way of earnings per share, generating $0.29 versus the $0.32 that Wall Street estimated.
Investors gobbled up the news which sent Netflix shares to an all-time high. The stock closed on Monday at a value of $202.68 but currently sits at $205.30 as of writing in after-hours trading.
Netflix will pump even more money into its content creation machine – as much as $8 billion – in the coming year. According to Chief Content Officer Ted Sarandos, the company wants to turn out around 80 movies in 2018. Netflix earmarked around $6 billion for original content this year.
Looking ahead to Q4, Netflix said it anticipates adding 6.3 million users during the three-month period and hopes to generate revenue of around $3.72 billion. Earnings per share are expected to check in at $0.41, or $0.33 when adjusted.