Netflix's Net Profit Increases 1.8 Times To $1.4Bln In Q3
Umer Jamshaid Published October 20, 2021 | 03:20 PM
MOSCOW (UrduPoint News / Sputnik - 20th October, 2021) American streaming service Netflix said that its net profit increased 1.8 times in annual terms in the third quarter of the current fiscal year and reached $1.449 billion.
Diluted net income per share amounted to $3.19 versus $1.74 the year before, according to the company's financial records. Revenue for the reporting period amounted to $7.5 billion, with a 16% increase year-on-year.
The total number of paying Netflix subscribers in the world, including newcomers, reached 214 million in the third quarter.
In recent weeks, the company has benefited from the success of the South Korean drama "Squid Game," which debuted on September 17 and quickly gained worldwide popularity.
In the series, the heroes, experiencing financial difficulties, are participating in survival games and fighting for a big cash prize.
The company predicts that in the fourth quarter of 2021, its net profit will reach $365 million and revenues will amount to $7.712 billion.
Netflix, founded in 1997, is headquartered in Los Gatos, California. The paid video service is operating in more than 190 countries around the world. In addition to streaming, since 2013, Netflix has been producing its own films, series and tv shows.
Related Topics
Recent Stories
Aiman Khan granted UAE Golden Visa
PSX achieves significant milestone, surpasses 72,000 mark
Pak Vs NZ T20I: Orphaned children extended special invitation to watch match
Finance Minister lauds UNDP’s unwavering support during floods
President Raisi leaves for Iran from Karachi
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
Today Gold Rate in Pakistan 24 April 2024
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
Law Minister expresses Govt's resolve to address issue of missing persons
More Stories From Business
-
Shipping activity at Port Qasim
51 minutes ago -
PSX achieves significant milestone, surpasses 72,000 mark
57 minutes ago -
KP to adopt fixed ST on services for lawyers, customs agent
1 hour ago -
KPT shipping movements report
1 hour ago -
Machinery import surges by 30% in nine months
2 hours ago -
Foreign exchange rates
4 hours ago
-
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
5 hours ago -
Today Gold Rate in Pakistan 24 April 2024
6 hours ago -
Afghan trade delegation, FPCCI discuss bilateral trade
16 hours ago -
With knowledge economy, Mauritius is a stable economy: Envoy
17 hours ago -
Aurangzeb reiterates govt's resole to reduce poverty, promote sustainable development
17 hours ago -
Finance minister meets Chairman Anjuman-e-Tajran; discuss issues of business community
18 hours ago