Netflix Surpasses Subscriber Expectations Despite Revenue Miss

Netflix gained 5.9 million new subscribers in the last quarter, surpassing analyst expectations, after cracking down on password-sharing. The company reported a profit of $1.8 billion on revenues of $8.3 billion. The ongoing strike by writers and actors is expected to impact the industry, causing delays in popular shows and movies. However, analysts believe Netflix is well-positioned to weather the strike due to its international audience, ability to generate hits, and crackdown on password sharing. Additionally, Netflix has introduced an ad-supported subscription and dropped its cheapest commercial-free plan to attract more sign-ups for its ad-supported option.