“We think this is primarily due to our record first half results and the pull-forward effect,” Netflix said in the letter. The streaming television giant, now facing an array of competitors, reported it has slightly more than 195 million subscribers. With subscriber growth slowing domestically, revenue growth at Netflix will likely come from price increases, Benes reasoned. Netflix reported a net income of $790 million on revenue of $6.4 billion, handily topping the same period last year. Netflix shares were down more than 5 percent in after-market tradesfollowing the release of the earnings figures.

Source: Manila Times October 21, 2020 16:13 UTC