(New York) Netflix saw its subscriber base grow more than expected in the third quarter, but its growth is showing signs of slowing as competition intensifies in streaming.
Published at 4:50 p.m.
The American giant of streaming video gained 5.1 million paying subscribers compared to the previous quarter, bringing the total to 282.7 million at the end of September, according to a Netflix statement released Thursday.
This increase is higher than that expected by analysts, who expected only 3.85 million additional paying accounts on a net basis, according to a consensus established by FactSet.
However, this increase is the lowest recorded by the Los Gatos (California) group for six quarters.
The year-over-year subscriber growth rate slowed to 14.4%, compared to 16.5% and 16% in the previous two quarters.
Investors reacted positively to the publication. The title gained 3.88% in electronic trading after the close of the New York Stock Exchange.
“Some might find the stock’s rating to be a bit overstated given that revenue and subscriber numbers are only slightly above expectations, but in the current environment they are satisfactory.” , reacted, in a note, Matt Britzman, of Hargreaves Lansdown.
Netflix is indeed facing increasingly fierce competition, and not only from other streaming platforms. streaming paying. YouTube thus has a market share greater than its own in the United States.
Turnover came to $9.82 billion, up 15% year-on-year, a little better than the $9.77 billion projected by analysts.
Here again, growth is moderating compared to the previous quarter (+16.8%).
Net profit reached $2.36 billion (+41%). Reported per share, the data most followed by investors, it is 5.40 dollars, while analysts expected 5.22 dollars.
