Netflix Inc. shares soared to an all-time high after the streaming giant added over 5 million new subscribers in the third quarter, surpassing Wall Street’s expectations. Sales for the period jumped 15% to $9.83 billion, while earnings rose to $5.40 a share. This growth marks a major rebound for Netflix, which added more than 60 million subscribers since May 2022, following a slowdown that had spooked investors. The company’s password-sharing crackdown and the introduction of a lower-priced ad-supported tier have contributed significantly to this surge, bringing its total subscriber base to 282.7 million.

While analysts note the subscriber boost from password-sharing enforcement may be temporary, Netflix remains optimistic. The company projects sales growth of up to 13% next year, driven by new subscribers and price hikes in regions like Spain, Italy, and Brazil. Despite concerns about slowing growth, Netflix has ambitious plans, including expanding its advertising business, building its own ad tech, and increasing live programming to attract more advertisers. Co-CEO Greg Peters mentioned that advertising sales are expected to double next year, further positioning Netflix as a key player in the streaming and advertising space.