Among other things, Netflix is assuming that the South Korean hit series “Squid Game” will grow more than experts around the world. The online video service predicted an increase of 8.5 million paying customers for the current fourth quarter on Tuesday after the US market closed, while analysts assume Refinitiv data of 8.3 million.
In the third quarter just ended, Netflix gained almost 4.4 million more customers, roughly half a million more than expected. Revenue rose to $ 7.48 billion after $ 6.44 billion in the previous year and was in line with forecasts. Earnings per share were $ 3.19 based on estimates of $ 2.56. The Netflix share initially gained three percent in after-hours trading.
“Squid Game” was released towards the end of the third quarter. It is about highly indebted people who take part in children’s games with fatal outcomes in order to win the 45.6 billion won (33 million euros) prize money. Netflix called it the biggest series in company history on Tuesday. The US group had lured numerous viewers in front of the home screen during the coronavirus lockdown with series such as “Bridgerton”, “The Queen’s Gambit” and “The Crown”. However, Netflix is facing increasing competition from Disney, Apple and Amazon, for example. (APA / Red)
