https://wccftech.com/netflix-third-quarter-earnings-heavy-is-the-head-that-wears-the-crown/ > For the third quarter of 2019, widely characterized by analysts as a lull before the proverbial storm for the company, Netflix (NASDAQ:NFLX) has reported solid growth numbers. Nonetheless, the company is expected to face significant headwinds in the coming quarters as several competitors debut their own content streaming services. > For the three months that ended on 30th September 2019, Netflix reported revenues of $5.25 billion which, in turn, marks an increase of 31 percent year-on-year but falls largely in line with expectations of analysts. Moreover, the company’s operating income more than doubled on an annual basis, coming out at $980 million. Similarly, the operating margin of Netflix increased by 670 basis points year-on-year to 18.7 percent. Crucially, the company added 6.8 million net subscribers this quarter against a forecast of 7 million subscribers. Nonetheless, this subscription number marks a healthy gain of 21.4 percent on annual basis. As a reference, Netflix added only 2.7 million net subscribers in the last quarter against an estimate of 5 million and, in the third quarter of 2018, the content streaming business added 6.1 million net subscribers. Additionally, the company reported a GAAP EPS of $1.47 against expectations of $1.05. Consequently, Netflix was able to beat EPS expectations by a whopping 40 percent. The streaming company has also indicated that it is concentrating on stemming its free cash outflow which came out at -$551 million in the third quarter versus -$859 million in the comparable quarter last year.