Benzinga | Oct 21, 2021 12:12PM EDT

Why Netflix Shares Are Making New All-Time Highs Today

Netflix Inc (NASDAQ:NFLX) is trading higher Thursday, rebounding after the stock fell following the release of its third-quarter financial results.

Netflix reported quarterly earnings of $3.19 per share, which beat the estimate of $2.56 per share. The company reported quarterly revenue of $7.48 billion, which was in line with estimates.

Netflix expects fourth-quarter earnings of 80 cents per share versus the estimate of $1.10 per share. The company expects fourth-quarter revenue of $7.712 billion versus the estimate of $7.68 billion.

Netflix reported adding 4.4 million paid net subscribers during the third quarter.

"We're very excited to finish the year with what we expect to be our strongest Q4 content offering yet, which shows up as bigger content expense and lower operating margins sequentially," Netflix said in a letter to shareholders.

The stock may be rebounding after multiple analyst firms raised price targets on the stock following the company's financial results.

NFLX Price Action: Netflix is making new all-time highs during Thursday's trading session.

The stock was up 3.41% at $646.49 at time of publication.

Photo: Napoleon Schwan from Pixabay.