Netflix beats estimates as ad-supported memberships rise 34%
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The Netflix logo is displayed above its corporate offices on January 24, 2024 in Los Angeles, California. Mario Tama | Getty Images Netflix reported earnings after the bell. Here are the results. Earnings per share: $4.88 vs $4.74 per share expected by LSEG Revenue: $9.56 billion vs.9.53 billion expected by LSEG Total memberships : 274.4 million paid memberships expected, according to StreetAccount Advertising has become an increasingly important business model for media companies to boost — or in some cases, achieve — profitability for streaming. Netflix's stock has been uplifted in recent quarters by its push to gain subscribers on its cheaper, ad-supported tier, in addition to its crackdown on password sharing. The company has also begun adding live sports, such as NFL games on Christmas Day over the next three years, a move that will likely attract more ad dollars for the streamer. Netflix had roughly 270 million global subscribers at the end of the first qua...