Netflix Stock Soars as Subscriber Growth Tops Expectations
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Netflix Stock Soars as Subscriber Growth Tops Expectations

By ERIC J. SAVITZ
Wed, Oct 19, 2022 8:36amGrey Clock 3 min

Netflix shares were trading sharply higher after the streaming giant posted better-than-expected subscriber growth for the third quarter.

The company added 2.41 million net new subscribers in the quarter, beating its own forecast of 1 million additions. Netflix (ticker: NFLX) said it expects to add another 4.5 million subscribers in the December quarter.

Netflix stock jumped 14% in late trading to $274.60.

The streaming company posted third-quarter revenue of $7.93 billion and earnings of $3.10 a share, ahead of the company’s forecast of $7.84 billion and $2.14 a share. For the fourth quarter, Netflix projects revenue of $7.78 billion and earnings of 36 cents a share.

Revenue in the latest quarter was up 6% but would have been 13% higher in constant currency, as the strong dollar took a considerable toll on reported results. The company said the revenue increase reflected a 5% increase in average paid memberships versus a year ago and a 1% rise in average revenue per membership.

The company said revenue was up 19% in the Asia-Pacific region adjusted for currency; 13% in the Europe, Middle East and Africa region; and 19% in Latin America. For the U.S. and Canada, revenue was up 12%, with paid subscribers up 100,000. The bigger subscriber increase was in the Asia-Pacific region, where the total increased 1.43 million. The company added 570,000 subscribers in EMEA, and 310,000 in Latin America.

Operating margin was 19.3%, falling from 23.5% a year ago and 19.8% in the June quarter, declines the company said were due to foreign exchange factors. Net income of $1.398 billion includes a $348 million noncash change tied to the company’s Euro-denominated debt.

The company expects an operating margin of 4% in the fourth quarter, down from 8% a year ago, due to both foreign exchange rates and higher content and marketing costs. Netflix said that the strong dollar will reduce full-year revenue by about $1 billion, with about an $800 million reduction in operating income.

In one surprise development, Netflix said that starting next quarter, the company would no longer give guidance on paid memberships—the metric that has been most important to investors in recent quarters. The company will still report quarterly subscriber data, just not forward-looking guidance on the metric.

The company said it would continue to provide guidance on revenue, operating income, operating margin, net income, earnings per share, and shares outstanding. Netflix said that with the addition of new revenue streams such as advertising and paid sharing, revenue growth will be a better measure of the company’s growth.

The company also provided a brief update on its strategy for reducing account sharing by people not in the same household. Netflix said that starting in early 2023, it will offer people now using borrowed passwords a way to transfer their Netflix profile into their own account. The company will also offer sharers easier ways to manage devices and to create sub-accounts to pay for family or friends.

Netflix also provided an update on its gaming service, which it launched almost a year ago. There are now 35 games on the service, the company said, and there are “encouraging signs” that gameplay leads to higher subscriber retention rates. The company said there are 55 more games in development, some based on Netflix video content.

Last week, Netflix unveiled the details of its new ad-supported subscription tier. Starting Nov. 3, the company will offer consumers the option to pay $6.99 a month for “Basic with Ads,” which will include four to five minutes of advertising per hour for streaming movies and TV shows. The new service is $3 cheaper than the company’s Basic plan, which is $9.99 a month, and a dollar a month cheaper than the new ad-supported tier on Walt Disney’s (DIS) Disney+.

Netflix said it doesn’t expect a material contribution from the new ad-supported tier in the fourth quarter, noting that it expects to grow membership in that plan “gradually over time.” Netflix added that the reaction from advertisers so far has been “extremely positive.”

Netflix also used its quarterly letter as a forum to poke at the competition, noting that its rivals together will have more than $10 billion in operating losses this year, versus a projected $5.4 billon in operating profit for Netflix. “Building a large, successful streaming business is hard,” the company said.



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Art can transform more than just walls—it shapes mood, evokes memory, and elevates the everyday. Discover how thoughtfully curated interiors can become living expressions of personal meaning and refined luxury, from sculptural furniture to bespoke murals.

By Ozge Fettahlioglu
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Art can transform more than just walls—it shapes mood, evokes memory, and elevates the everyday. Discover how thoughtfully curated interiors can become living expressions of personal meaning and refined luxury, from sculptural furniture to bespoke murals.

  1. Artful Abundance: The Sophisticated Joy of Artful Interiors

Imagine a hushed hospital corridor, its sterile walls awash in the glow of flickering fluorescent lights. In that unexpected moment, a solitary Monet painting emerged—a luminous tableau of delicate lilies dancing in quiet defiance.

As the clinical austerity yielded to the graceful presence of art, this single work transformed into a vessel of solace and hope amid overwhelming uncertainty.

That moment continues to resonate with me—a vivid reminder that art transcends mere aesthetics to become a profound catalyst for emotional healing and inspiration. It is this transformative experience that fuels my passion as a biophilic interior designer.

I create environments where every element, from bespoke murals to sculptural installations, harnesses art’s power to elevate the human spirit, spark creativity, and enrich lives. Let us journey together into the world of luxurious interiors that define modern elegance.

2. Art as Wellness: A Daily Ritual of Rejuvenation

At its core, art is a daily ritual that renews both mind and spirit. Scientific research consistently confirms that nature-inspired art reduces stress, lowers blood pressure, and kindles creativity.

The simple act of beholding a tranquil landscape or a subtle floral motif transforms your space into a private retreat, offering solace amidst a hectic world.

In my practice, I meticulously select artworks chosen not only for their aesthetic appeal but also for their potent, therapeutic benefits.

Each piece serves as daily inspiration—a quiet invitation to experience calm and well-being. For example, our Hilton project demonstrates how hospitality resorts integrate nature-inspired art not only for its visual impact but also as a medium of healing; here, a collaboration with a local artist produced a masterful installation that functions both as a statement piece and a source of well-being.

3. Bespoke Brilliance: Celebrating Your Unique Narrative

Luxury design is profoundly personal. Bespoke art transcends mass-produced décor by capturing your unique story—whether through a custom mural reminiscent of your favourite botanical garden or silk wallpapers that evoke the allure of exotic landscapes.

Each personalised creation turns your walls into a living narrative of cherished memories and distinctive taste. Consider how a thoughtfully designed space can reflect your individuality and elevate your living experience.

4. Sculptural Elegance: Redefining Spatial Dynamics

Art is not confined to two dimensions. Three-dimensional sculptural works bring vitality to interiors by adding depth, texture, and tactile allure.

Picture a gracefully sculpted piece—a marble table echoing the gentle rhythm of ocean waves or a repurposed bronze branch serving as an elegant room divider.

Such statement sculptures command attention while seamlessly integrating form with function and providing a natural conversation starter in any refined space.

5. Architectural Artistry: When Structure Meets Art

A truly sophisticated home elegantly merges art with architecture. Imagine a residence where bespoke staircases curve with elegance, where hand-carved wooden doors evoke the intricate beauty of nature, and where expansive windows frame breathtaking vistas.

In these spaces, every architectural detail contributes to a cohesive canvas of artistic expression. As you envision your own home, consider how your surroundings can be thoughtfully designed to reflect both beauty and purpose.

6. Furniture as Functional Art: Merging Practicality with Mastery

In luxury interiors, even the functional becomes exceptional through artful design. Consider a one-of-a-kind, hand-carved pink marble swivel chair—a masterpiece where practicality meets refined craftsmanship.

More than just a piece of furniture, this chair sparks conversation and serves as an emblem of creative innovation and exclusivity.

Let this be a symbol of how every element in your home might reflect your dedication to exquisite artistry.

7. Digital Sophistication: The Future of Artistic Expression

In an age defined by rapid technological advancement, digital art installations offer a contemporary twist on traditional forms.

High-resolution displays now present dynamic landscapes—a cascade of waterfalls, the quiet majesty of a forest, or a serene digital ocean vista—that adapt and evolve with your environment.

This modern element seamlessly aligns cutting-edge technology with timeless aesthetics, ensuring your space remains as innovative as it is elegant.

8. Luxurious Textiles and Furnishings: The Essence of Understated Elegance

Luxury is often revealed in the details: the textures, colours, and fabrics that together create a haven of understated splendour.

Bespoke silk cushions with intricate botanical embroidery, sumptuous velvet throws that evoke tropical charm, and bedding that mirrors the ethereal beauty of cloudscapes all contribute to an atmosphere of refined elegance and comfort.

Every tactile detail is chosen to evoke warmth and stand as a testament to your taste for excellence.

9. Refined Heritage: Honouring Timeless Craftsmanship

In the realm of luxury, tradition and modernity exist in perfect harmony. Integrating timeless antiques—such as a rare Vladimir Kagan couch or a coveted Hans Wegner chair—with contemporary design creates a dialogue that honours both heritage and innovation.

These storied pieces carry with them a legacy of masterful craftsmanship, adding layers of significance and depth to your living environment. They remind us that true elegance is built upon a foundation of enduring quality.

10. The Art of Personal Meaning: Crafting Your Legacy

Ultimately, art is the language through which you express your unique legacy.

Every carefully chosen piece reflects a part of your personal journey, turning your living space into a narrative as emotionally resonant as it is visually stunning.

It imbues your environment with memories, aspirations, and the essence of who you are—a living masterpiece that evolves with time.

Reflect on how these elements might not only beautify your home but also stand as timeless expressions of your personal story.

Now is the moment to immerse yourself fully in the joy of art. Elevate your surroundings and transform your residence into your greatest masterpiece.

Your heart, your legacy, and your space deserve nothing less than extraordinary artistry.

Ozge Fettahlioglu is the founder of Cocoplum | Biophilic Design Studio and Boxareno | Custom Modular Constructions. A wellness and biophilic design leader, she creates bespoke spaces that inspire, heal, and elevate daily living. Ozge is also a board member of Biophilic Cities Australia.

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