In addition, this was a turnaround from the loss of 970,000 subscribers reported in the second quarter of 2022. This was more than double management's forecasts. Netflix added 2.41 million net global subscribers in the third quarter of 2022.

Let's take a look at the financial results for the third quarter as well as the stock's valuation to see whether it could be a value opportunity at current levels. Management announced a series of changes to recover growth numbers, and Netflix is now showing signs of a recovery. This decline was mainly driven by a subscriber loss of 2 million in the first quarter of 2022 amidst rising competition, signaling an end to Netflix's hyper-growth phase. The company’s stock price had previously declined by ~70% from all-time highs in November 2021. NFLX, Financial), which has had a very rough 2022 so far, saw its stock finally take a turn for thebetter, jumping by 14% on news that the company had beaten its earnings estimates for the third quarter of 2022.

Spotify stock earnings