With another strong quarter, Netflix’s share price hits all-time high
Netflix has had a run of strong earnings over the last year, driven by better-than-expected subscriber gains and relatively consistent profit. Investors like what they see, and the company’s stock has steadily climbed, closing today at an all-time high of $202 a share. But the company has also been forced to borrow large sums to cover the ever-growing costs of its original content.
The company continued its streak this past quarter, besting analyst expectations in terms of revenue and subscriber growth. The company reported $2.99 billion in revenue and 5.3 million new subscribers, a record for third quarter growth. That breaks down to 4.45 million new international customers and 850,000 new additions in the US.