Netflix (NASDAQ:NFLX) shares surged over 15% intra-day today after it comfortably exceeded profit expectations and experienced a rise in its subscriber numbers.

In its financial report, the streaming giant posted earnings per share of $3.73 on revenue totaling $8.54 billion. This outperformed analysts’ projections of $3.49 EPS and $8.54 billion in revenue.

The company reported a substantial increase in paid subscribers during the third quarter, with 8.76 million new subscribers, well above the anticipated 6 million.

In a shareholder letter, Netflix acknowledged the challenges faced by the industry due to writers’ and actors’ strikes in the US over the past six months. While the writers’ strike has concluded, Netflix is still engaged in discussions with actors’ unions, aiming to resolve the remaining issues promptly to resume movie and TV show production.

For the fourth quarter, Netflix forecasts earnings per share of $2.15 and anticipates revenue of approximately $8.69 billion. Revenue growth is expected to reach around 10.7%, following a 7.8% growth rate in the third quarter.

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