Netflix profits jump 180 percent to about $1.5 billion

The US broadcasting service, “Netflix,” announced today, Wednesday, that its net profit jumped nearly 180 percent, on an annual basis, during the third quarter of the current fiscal year, to record 1.449 billion dollars.

Moscow – Sputnik. Net income per share was $3.19, up from $1.74 a year earlier, according to financial statements released by the company.
Revenues of “Netflix” during the period referred to in the quarterly report, amounted to about 7.5 billion US dollars, an increase of 16% year-on-year.

The total number of digital subscribers worldwide, including new entrants, reached 214 million in the third quarter.

In recent weeks, the company has benefited from the success of the South Korean drama “The Squid Game”, which debuted on September 17 and quickly gained worldwide fame.

In the series, the protagonists, in financial difficulties, are forced to participate in survival games and fight for a big cash prize.

The company expects that during the fourth quarter of 2021, its net profit will reach $365 million and revenue will reach $7.712 billion.

The headquarters of “Netflix”, which was founded in 1997, is located in Los Gatos, California, and in 2002 it floated its shares on the Nasdaq Stock Exchange, and its value at the time was about $220 million, then jumped to $278 billion by this year, according to data. Company’s Market Cap website.

The paid video service operates in more than 190 countries around the world, and in addition to broadcasting, the company has been working since 2013, producing its own films, series and TV shows.