Netflix reported solid Q3 results with net profits of $1.45bn, up ~2x vs. $790mn in 3Q2020. Revenues stood at $7.5bn, up 16% YoY and it projects another 16% YoY growth for the next quarter. The quarter’s subscriber growth was at 4.4mn, a strong beat over analysts expectations of 3.84mn. Among the positives, Netflix said that ‘Squid Game’ has become their biggest TV show ever. Netflix announced it will use new metrics for reporting viewership, namely ‘reporting hours viewed’ as compared to number of accounts that watched. Co-CEO Reed Hastings said, “We have so much content coming in Q4 like we’ve never had, so we’ll have to feel our way through and it rolls into a great next year also”.
Netflix’s bonds were slightly higher with its 4.375% 2026s up 0.5 to 111.9, yielding 1.9%
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