Netflix Inc. posted its strongest subscriber growth of the year, beating Wall Street estimates thanks to the popularity of “Squid Game,” its breakout drama from South Korea.
The company added 4.38 million subscribers in the third quarter, according to a website statement Tuesday, exceeding projections of 3.72 million. Netflix expects to sign up 8.5 million customers in the final three months of 2021, compared with Wall Street estimates of 8.32 million.
September’s program slate changed the course of the year for Netflix. The service added just 5.5 million customers in the first six months of 2021, the least since 2013. Analysts had worried the slowdown would drag on after July and August passed without the return of popular shows. But then Netflix released new seasons of “La Casa de Papel” and “Sex Education,” as well as “Squid Game,” a show about a deadly contest.
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