Netflix posted its earnings for the third quarter on Thursday and beat Wall Street forecasts both for added subscribers and overall revenue. Meanwhile, analysts predict that the streaming giant will soon raise its prices.

Netflix's revenue for the third quarter was $9.825 billion, slightly more than the $9.769 billion that analysts had forecast. The company also added 5.1 million subscribers, far more than the 4 million additional users that investors expected.

“Engagement, our best proxy for member happiness, remains healthy,” the report noted. “Through the first three quarters of 2024, watch hours per member among owner households (the clearest view of engagement trends since the introduction of paid sharing) increased year over year.”

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Netflix currently has over 600 million users with each of them spending around two hours a day on the platform, according to the report.

Will Netflix raise prices in the US?

Thursday's earnings report may not mean subscribers will avoid a price hike. The broadcaster is raising prices in Spain and Italy on Friday, and analysts from investment firms including Oppenheimer & Co. declared before the earnings release that a price increase may be on the way for US users as well.

Netflix currently costs $6.99 per month for a standard plan with ads, $15.49 per month for a standard plan with up to two devices watching at the same time, and $22.99 per month for a premium plan with up to on four supported devices.

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