Oct 18 at 04:57pm.
In the third quarter of this year, the company gained 2.4 million new paid subscribers, a reversal from the last two quarters, when it lost money for the first time in a decade.
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In July and the third quarter of last year, the company reported 220.67 million and 213.56 million subscribers, respectively.
The service was able to beat its own prediction.
By the end of the fourth quarter, the company expects to have 4.5 million paid users.
Net income was down 4% from a year ago and revenue was up 5.9%, both of which beat the company's forecasts
The Asia-Pacific region added over one million memberships in the third quarter.
In after-hours trading on Tuesday, the company's share price increased by more than 12% and stood at $273.78 as of 4:30 p.m.
The first time ads will be on the service will be in November. Disney+ is launching an ad supported tier in December. A free tier will be offered when the two streaming services combine.
The company lost 200,000 subscribers in April. Competition with other streaming services and the large number of households that share accounts with each other were blamed for the suspension of its service in Russia. In July it lost nearly 1 million subscribers. A profile transfer feature that allows a user to move their data between accounts was launched this week. The company laid off 450 employees. The release of the fourth season of Monster: The Jeffrey Dahmer Story was one of the reasons for the increase in subscribers.
According to a report published last week by MoffettNathanson, there were over a thousand episodes of original TV content produced by the company. The report said that that is a record for the company and five times that of any other service. There were nearly 160 original shows on the platform.
The cheaper ad-supported tier will launch on November 3.
The company produced a record number of original television episodes this quarter.
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