Netflix Surpasses Earnings Expectations, Shares Soar as Ad-Supported Tier Shows Significant Momentum

In a major boost to its investors, Netflix reported a stellar set of earnings for the third quarter, surpassing expectations and sending its shares skyrocketing in premarket trading. The streaming giant's revenue and earnings per share (EPS) both exceeded analyst estimates, with EPS coming in at $5.40 and revenue reaching a record-breaking $9.83 billion.