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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

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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 journalist from Maryland. 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 film fanatic and will talk with you about movies and games all day. You can follow him on twitter @Donimals_