Netflix Hits Record High as Subscriber Growth Eases Investor Concerns

Luminary Times22 Oct, 2024Entertainment

Netflix's shares soared to a record high on Friday, driven by strong subscriber additions and a robust content lineup that continues to attract viewers. The stock surged nearly 10%, poised to add more than $28 billion to its market value, currently standing at about $295 billion. The company added 5.1 million new subscribers in the third quarter, surpassing analyst expectations, although this number was lower than last year's 8.76 million additions. Netflix expects even higher subscriber growth in the last quarter, fueled by the much-anticipated return of the hit South Korean drama "Squid Game."