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Netflix to double profits after adding millions of subscribers in three months
After cracking down on password sharing, expanding into ads and investing billions in live TV, group declares success
Netflix expects to double its profits this quarter after the world’s largest streaming service added more than 5 million new subscribers this summer. After cracking down on password sharing, introducing adverts to its service and investing billions in live TV, the group declared it had “delivered” on plans to shore up its business. As it attempts to shift investors’ attention away from audience growth, the company forecast net income of $1.85bn during the current quarter – up from $938m in the same period last year.
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