Netflix posts solid beats on earnings and new subscribers

According to the company, it anticipates adding 8.5 million subscribers during the fourth quarter.
This quarter's subscriber growth rate of 4.4million was well above the 3.84 million expected. Analysts expected users to flock the streamer when it started to roll out new content, which was delayed until the second half of the year.

Netflix shares rose slightly Tuesday morning after the company released third quarter results. This shows investors that the streaming service can continue to attract new subscribers.

Netflix announced that it will use new metrics to report viewers. Netflix will report hours viewed, rather than the number accounts that were viewed.

The company's top film right now is "Extraction," which has been viewed by 99 million people in the first 28 days of Netflix. Future reporting will place "Bird Box," which has been viewed 282 million times in its first 28-days on Netflix, as the top film.

In a letter to investors, the company stated that the new metrics "matches what outside services measure TV watching and gives proper credit for rewatching."

It also stated that Netflix will release title metrics more frequently outside of its earnings reports.

Investors were also informed by Netflix about its gaming push. Netflix stated that it has begun testing its games in selected countries but that this is still a very early stage of the initiative.

These games will be included in Netflix subscriptions, but they will not contain advertisements or in-app purchase.

This is still a developing story. Keep checking back for more updates.

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