Netflix gained 2.4 million new paid subscribers in the third quarter of this year, the company said in an earnings report Tuesday, a reversal for the streamer after reporting losses for the first time in 10 years over the last two consecutive quarters.
Netflix reported 223.09 million subscribers, up from the 220.67 million it reported in July and 213.56 million in the third quarter of last year.
The streaming service beat its own forecast of 221.67 subscribers.
Netflix predicted it will continue to grow its subscriber base and add 4.5 million paid users by the end of the fourth quarter.
The company generated $1.4 billion in net income in the third quarter, down nearly 4% from a year ago, and revenue grew 5.9% to $7.9 billion, both of which beat the company’s forecasts.
Much of the growth came from the Asia-Pacific region, where 1.4 million paid memberships were added in the third quarter.
Netflix’s share price jumped more than 12% in after-hours trading Tuesday and stood at $275.40 as of 8 p.m., after closing at $240.86.