Quarterly earnings per share were $5.40, up from $3.73 in the year-ago quarter and beating Street estimates by nearly 30 cents, while revenue rose 15% to $9.83 billion rose. The company also issued confident guidance for next year, forecasting revenue growth of 11% to 13% to $43 billion to $44 billion.

Streaming has become a highly competitive business as customers quickly churn out content and have little hesitation in canceling subscriptions if they don’t get enough of it. However, Netflix managed to come out on top.

Despite delays caused by the two Hollywood strikes last year, the company still managed to deliver new hit series like The perfect coupleas well as a new season of the fan favorite Emily in Paris.

Netflix also announced the return of in a letter to shareholders Squid gameits most popular series ever, in the fourth quarter. The end of the year will also highlight the company’s push into live sports, which includes two NFL games on Christmas Day and a boxing match between former superstar Mike Tyson and influencer Jake Paul.

“There’s definitely some good content, but I think Netflix wins by having the most original content but also the most viewers,” said Brian Mulberry, a client portfolio manager at Zacks Investing Management Assets before the earnings announcement. “Then it’s a matter of consumers liking what they produce.”

Netflix is ​​trying to divert focus from subscriber numbers

Mulberry, whose company holds Netflix across a variety of products, also cited customer base diversification as a major strength. The company added just over five million new subscribers in the third quarter, beating Street expectations. Most came from two regions: Europe, the Middle East and Africa, and the Asia-Pacific region.

In line with past trends, Netflix expects higher subscriber growth by year-end. However, the company will stop publishing the closely watched statistics starting in 2025.

That’s disappointing for people who follow the stock, like Scott Acheychek, the COO of Rex Financial, who oversees a leveraged ETF that offers investors 200% exposure to the stock’s daily returns.

However, he understands that the company believes that the attention the number generates is detrimental to other metrics that it believes are more indicative of the company’s success.

“They are taking a clear and direct approach to getting us all to look at and evaluate their company’s performance based on margins and sales,” he said Assets by email following the telephone conference.

Netflix’s crackdown on password sharing has driven up both numbers, but analysts expect that impact to eventually subside. Many are closely watching the performance of the service’s cheaper, ad-supported tier, which saw a 35% increase in membership compared to the previous quarter.