Netflix's (NASDAQ: NFLX) stock surged 14% on Wednesday, Oct. 19, following Tuesday evening's release of its third-quarter earnings report. The streaming video giant's revenue rose 6% year-over-year to $7.93 billion, which beat analysts' expectations by $90 million. Its earnings per share declined 3% to $3.10, but still cleared the consensus forecast by $0.97.
More importantly, Netflix gained 2.42 million paid subscribers sequentially, which finally ended its two-quarter streak of subscriber losses. Do those positive developments indicate it's finally safe to buy Netflix's stock, which remains about 60% below its all-time high from last November?
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Source Fool.com