Netflix reports $3.6B quarterly profit

Netflix announced quarterly profits of $3.66 billion in the third quarter, a 44% increase compared to last year, driven by revenue growth, an increase in subscribers, and price hikes. Revenue rose by 11.8% to $12.87 billion, with operating income climbing to $4.46 billion and an operating margin of 34.6%. The company expects continued growth in the fourth quarter and annual revenues reaching $51.1 billion by 2026.

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