"Netflix's Stock Skyrockets on Impressive Earnings and Subscriber Growth"
Netflix's stock surged 16% after reporting a 70% increase in its new ad-supported subscription tier and adding 8.76 million subscribers for the third quarter, surpassing Wall Street estimates. This marks the biggest jump in subscribers since Q2 2020, signaling a return to growth for the streaming giant. Analysts at Morgan Stanley upgraded the stock to overweight, citing confidence in Netflix's ability to accelerate revenue growth and expand margins. Truist analyst Matthew Thornton also upgraded Netflix to a buy rating, predicting continued subscriber growth due to password-sharing crackdowns and the potential for advertising revenue.