Netflix Shares Surge 15% After Subscriber Growth—Largest Single-Day Gain Since 2021

Published 8 months ago
By Forbes | Ty Roush
In this photo illustration the Netflix logo seen displayed
(Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)


Shares for Netflix rose by over 15% on Thursday, the largest single-day gain for the firm in nearly three years, after the streaming service reported growth that exceeded analyst expectations, and price increases.


Netflix shares rose by 15.92% to $401.30 as of Thursday morning, following a more than 10% jump to over $390 after the company released its third-quarter earnings report on Wednesday.

This is the largest single-day gain for Netflix since January 20, 2021, when shares rose by 16.86% to $586.34 after the company reported it had eclipsed the 200 million subscriber mark and announced it was considered stock buybacks.


Netflix added $8.54 billion in revenue and nine million net paid subscribers through a three-month period ending September 30, matching and exceeding estimates of $8.54 billion and 6.08 million, respectively.

A letter to shareholders on Wednesday also indicated Netflix was raising the price of its basic and premium plans to $11.99 and $22.99, up $3 and $2, respectively, as part of an effort to be competitive with other streaming services, including Amazon Prime Video, Disney+ and Paramount+.


247.2 million. That’s how many global paid subscribers Netflix has, according to its latest earnings report.


Prior to the nearly 17% single-day gain for Netflix in 2021, the previous high for the streaming firm was a gain of 16.8% on October 18, 2016. The increase followed an announcement from Wells Fargo, which upgraded its price target for Netflix shares to $700 per share, up from $510, adding to similar announcements from other analysts, according to CNBC.


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Netflix reported earnings up to $3.73 a share on Wednesday, as chief executive Greg Peters said the firm was “incredibly pleased” with its recent growth, according to Bloomberg. Shares for the company have jumped by nearly 36% this year, and by just over 47% since October 2022. The stock crashed about 75% in the first half of 2022, after Netflix reported its first loss of subscribers in a decade. Netflix has continued to report subscriber growth, after announcing a crackdown on password sharing and a cheaper subscription tier that includes ads. The company also added a paid sharing option—requiring users to pay extra for accounts they share with others—that was called a “primary revenue accelerator in the year” by chief financial officer Spencer Neumann.


Netflix Hikes Prices For Some Plans As Subscriber Numbers Surge (Forbes)