The figures covering the July to September period took the company's subscriber base to 137 million and reassured investors anxious the company was facing a slowdown in its growth surge.
During the September quarter, Netflix added about 676 hours of original programming in the United States, a 135 percent increase from a year earlier, according to Cowen and Co analysts. The news broke a previous streak of five straight quarters in which subscriber growth exceeded expectations.
While WarnerMedia CEO John Stankey stated while announcing the new venture, "our job is to build a compelling offer of content....[my job] isn't to build another Netflix", it wouldn't be surprising if landing a blow against the streaming Goliath was in the back of his mind.
Last month's carrier billing deal with Hathway Broadband will give Hathway subscribers a new set top box with inbuilt Netflix, and a shortcut button on the remote to launch the Netflix app. Further, it issued aggressive guidance for Q4 2018, saying it expected an additional 9.4 million subscribers. Netflix shares have risen more than 70 percent so far this year.
The Faangs have driven stock markets to record highs and Netflix's shares leaped 15% in after hours trading.
Executives said audiences welcomed shows tailored to specific markets, such as "Sacred Games" in India, which the company identified as key to its expansion.
Analysts estimate that it added about 676 hours of original programming in the USA in the most recent quarter - 135% more than in the same period a year ago.
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The July letdown sent Netflix stock plunging more than 10 percent, prompting some to speculate the company may have peaked.
Revenue: $4 billion. Analysts were expecting $4 billion, according to Bloomberg.
In a letter to shareholders, Netflix said, "We saw strong growth broadly across all our markets including Asia". The number of people paying for cable or satellite has fallen in recent years, denting profit at the world's largest media companies and triggering a wave of mergers.
Netflix has said it plans to invest some $8 billion in original content. Netflix doesn't break out its customers by market, with the exception of the U.S., though most analysts agree the UK, Brazil, Canada and Mexico rank among the company's largest.
Media companies that once sold programs to Netflix for hundreds of millions of dollars are now building their own on-demand services to compete head on.
Is Netflix anxious about competition yet?