Netflix tops subscriber targets as ad-tier signups grow

Netflix (NFLX.O) picked up 5.1 million streaming subscribers in the third quarter, topping Wall Street estimates by more than 1 million, and said it expected higher customer growth around the holidays when Korean drama “Squid Game” returns.

Shares of Netflix rose 4.8 per cent in after-hours trading on Thursday following the earnings report. The shares have gained about 47 per cent so far this year.

As the pace of subscriber addition slows, Netflix has been trying to shift investor...