Netflix profits increase by 73%

in News · 31-10-2020 16:00:00 · 1 Comments

Netflix's profit rose 73 percent in the first nine months of 202, compared to the same period in 2019, to 2,219 million dollars (1,888 million Euros), the entertainment content platform said.

Between January and September, the revenues of the company led reached $ 18,350 million (€ 15,614 million, at the current exchange rate), plus $ 3,661 million (€ 3,115 million) than a year earlier, driven by the increase consumption of Netflix content during the covid-19 pandemic.

However, Netflix's subscriber growth slowed during the summer months, following the spring increase due to the confinement resulting from the pandemic, which has confined millions of people to their homes.

After gaining 2.2 million subscribers in the period between July and September – even so below analysts' expectations - Netflix ended the quarter with 195.2 million subscribers worldwide.

In the first nine months of the year, Netflix added 28 million subscribers, ensuring the biggest annual increase in the company's history.


Comments:

What wonderful news. However, shouldn't we read more about how damaging the handling of C19 is for the Portuguese instead of how great it is for a US company?

By John Dough from Lisbon on 31-10-2020 05:33
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