Netflix reported its third-quarter performance for 2024, showing a 15% increase in total revenue compared to the same quarter last year, totaling $9.825 billion. Net profit saw a rise to $2.364 billion, with operating cash flow increasing to $2.321 billion.
The number of Netflix members grew by an additional 5.07 million accounts in the second quarter of 2024, reaching a total of 282.72 million accounts. Netflix stated that the Asia-Pacific region’s market segment has experienced significant growth, with total revenue increasing by 19% due to enhanced localized content in countries like Japan, South Korea, Thailand, and India.
In the fourth quarter of 2024, Netflix anticipates a high subscriber growth rate driven by new content such as Season 2 of Squid Game, Season 4 of Outer Banks, Season 7 of Love is Blind, and new series like Black Doves, No Good Deed, and A Man on the Inside.
TLDR: Netflix’s Q3 2024 results showed a 15% revenue increase, with a growing subscriber base and promising content lineup for the upcoming quarter.
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