Netflix adds 6.8 million subscribers in Q3, braces for higher competition

San Francisco: Netflix added 6.8 million subscribers in the third quarter of this year internationally, compared to seven million it had forecast, even as the streaming giant braces for stiff competition as Apple and Disney prepare to launch similar services.

Netflix reported $5.2 billion in revenue in the third quarter, up 31 per cent over the prior year, and operating income doubled to $1 billion.

“In Q3, our guidance forecast was our most accurate in recent history,” Netflix said on Wednesday in a letter to shareholders.