Netflix Stock Surges After Strong Third-Quarter Results

Netflix's stock experienced a sharp rise during Thursday's U.S. trading session, following the release of impressive third-quarter financial results for the current year.

The streaming giant reported the addition of over 5 million new subscribers, surpassing analysts' expectations. This contributed to a record-breaking revenue of $9.8 billion, a 15% increase year-over-year. Profits also saw a significant jump from $1.68 billion to $2.36 billion.

Netflix further fueled investor optimism with forecasts predicting a 15% revenue growth in the coming periods. This positive outlook is driven by the highly anticipated second season of the South Korean hit series Squid Game and other upcoming original content.

As a result, Netflix’s stock (NASDAQ: NFLX) surged 9.68%, gaining $66.57 per share, reaching $754.22 in U.S. trading sessions.

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