Netflix Adds Millions of Subscribers, But Growth Slows

AFP/APP

San Francisco: Netflix announced on Thursday that it gained over five million new subscribers in the last quarter, though it indicated a slowdown in growth.

The streaming giant reported ending September with a total of 282.7 million subscribers, generating a profit of $2.4 billion and a 15 percent increase in revenue, reaching $9.8 billion compared to the same period last year.

Netflix shares rose nearly five percent in after-market trading, reaching $720.75, more than double their value from a year ago.