SAN FRANCISCO, California — Netflix on Thursday said it added more than 5 million subscribers in the recently ended quarter but signaled slowing growth.
The streaming juggernaut said it ended September with 282.7 million subscribers, reporting a profit of $2.4 billion on revenue that jumped 15 percent compared with the same period a year earlier to $9.8 billion. Netflix shares rose nearly 5 percent to $720.75 in after-market trades, trading at slightly more than double the price from a year earlier.
'It's worth noting we've got a lot of work still ahead of us to achieve that goal to make our offering better for advertisers,' Peters said.Ross Benes, senior analyst at eMarketer, warned that Netflix will need to be careful not to degrade the experience for viewers as it weaves ads into programming, and forecast that US ad revenue would be a small fraction of the money the company takes in.
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