<cite class="source__cite"> Los Angeles CNN &nbsp;—&nbsp; </cite>

 Netflix reported a 9% year-over-year increase in average paid memberships in its earnings Wednesday, adding 8.8 million subscribers last quarter. That’s compared to 2.4 million in the third quarter last year. 

 The streaming giant brought in $8.54 billion of revenue last quarter, boosted by higher-than-expected growth of its membership base, according to the company. 

 Netflix’s stock jumped more than 8% in after-hours trading. 

This story is developing and will be updated.

Netflix reported a 9% year-over-year increase in average paid memberships in its earnings Wednesday, adding 8.8 million subscribers last quarter. That’s compared to 2.4 million in the third quarter last year.{ai:summary}Netflix saw a 9% increase in paid memberships and added 8.8 million subscribers last quarter, compared to 2.4 million the previous year. The streaming giant's revenue for the quarter reached $8.54 billion, leading to an over 8% stock increase. #economy

Netflix stock jumps after adding more than 8 million subscribers since last year | CNN Business

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