Netflix earnings beat analysts' expectations in Q 3

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Netflix earnings beat analysts' expectations in Q 3

The company reported Q 3 earnings of $3.19 a share, beating FactSet analysts' expectation of $2.57 a share after falling short on expectations in the prior quarter.

The streaming service said it saw strong viewership of returning shows the last quarter, including the fifth season of Money Heist, which 69 million households tuned in to watch, and the third season of Sex Education, which drew in 55 million households.

But South Korean survival drama Squid Game has already become Netflix's biggest television show ever, drawing in 142 million member households worldwide just in the four weeks since it was first released.

The company said the dystopian hit has ranked No. 1 in 94 countries, including the U.S.

Netflix also announced that starting later in the year, the company will change how it reports its viewership numbers, switching from the number of accounts that watch a show to the number of hours viewed of each title.