Netflix Achieves Top Growth in the Third Quarter of the Year

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California-based digital media services platform Netflix has reportedly added 7 million new streaming subscribers globally in 2018, thereby exceeding even its own expectations.

According to reports, the company had set a target of 5 million total member additions for the quarter. Now Netflix has 137 million users worldwide.

The company’s net income increased to $402.8 Mn in the third quarter ended on September 30, up from $129.6 Mn in the same quarter, a year earlier. The total revenue has gone up to $4 Bn from $2.98 Bn a year earlier.

The company has now set a new target to add 9.4 million new members in the fourth quarter of 2018.

The Q3 results for Netflix came as a breather for its investors and the team after facing a slow down in the last quarter.

Earlier in July, it had attracted 1 million fewer subscribers than expected, with net membership additions coming in at 5.15 million versus 5.2 million from the year-ago quarter.

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