Netflix reported that its advertising business is experiencing significant growth, with ad-tier memberships seeing a substantial 35% increase quarter-over-quarter. The ad-tier accounted for over 50% of new sign-ups in markets where it is offered.
The company's third-quarter earnings revealed impressive figures: earnings per share of $5.40, exceeding expectations, and revenue of $9.83 billion, marking a 15% increase year-over-year. Netflix also added 5.1 million subscribers during this period, surpassing Wall Street's projections.
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