• News

Netflix (NFLX) Q3 2023 earnings results beat EPS and revenue expectations

Netflix's latest round of earnings showed expectation beats despite headwinds.

Donovan Erskine

October 18, 2023 1:43 PM

Netflix

1

Netflix (NFLX), the leading company in the film and television streaming business, is out with its earnings report for the latest quarter. Despite a pretty hectic quarter for Netflix and the industry overall, the company managed to beat both revenue and EPS expectations.

Netflix divulged its earnings report in a letter to shareholders today. We see here that the company brought in $8.54 billion in revenue, narrowly beating the $8.5 billion estimate. While Wall Street expected Netflix’s earnings-per-share to be $3.49, the company ended up tallying $3.73.

The previous quarter saw Netflix navigating the (now-resolved) WGA strike and (ongoing) SAG-AFTRA strikes, which are directly addressed in the letter to shareholders.

Netflix (NFLX) stock was on the rise after the release of its earnings report, reaching as high as $384.23 after ending the day at a $350.31 valuation. We expect to hear more about the quarter during the upcoming earnings call. For more financial news, Shacknews has you covered.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_