Netflix crushes expectations across the board, adds 2.41 million subscribers

In this photo illustration the Netflix logo in the App Store seen displayed on a smartphone screen.

After the bell Tuesday, the company posted better-than- expected results on the top and bottom lines. The streamer added more than two million net global subscribers, more than doubling what the company had projected.

The results can be found here.

• EPS: $3.10 vs$2.13 per share, according to Refinitiv.
• Revenue: $7.93 billion vs $7.837 billion, according to Refinitiv survey.
• Expected global paid net subscribers: Addition of 2.41 million subscribers vs. an addition of 1.09 million subscribers, according to StreetAccount estimates.

The Asia Pacific region accounted for most of the growth in subscribers. The U.S.-Canada had the smallest growth of any region.

The company will no longer give guidance for its paid memberships, but will still report those numbers during its earnings release.

The company expects to add 4.5 million subscribers in the first quarter of its fiscal year, which begins on July 1.

The streamer said it was very positive about its business. It doesn't expect the new tier to add much to fourth-quarter results, but it expects membership to grow over time. The current forecast for subscriber growth is based on the upcoming slate of content and the seasonal changes that occur in the last three months of the year.

The hit shows and movies that helped move the needle during the third quarter were highlighted by the company. The lower priced ad-supported plan will launch in 12 countries in November.

The company believes it is on a path to reaccelrate growth after a difficult first half. Satisfying members is the key. We always try to win the competition for viewing. Our members tell their friends and then more people watch and stay with us.

This is a big story. You can check back for the latest news.