Netflix revenue and profit grows in third quarter

Key points

• Netflix has reported third-quarter profit above Wall Street's expectations, but its shares fell after it lowered its advertising sales guidance. The streaming company earned $US3.66 billion, or 87 cents per share, for the July to September period, up 44 per cent from a year earlier.
• Revenue rose 12 per cent to $US12.87 billion. Netflix also announced plans to cut about six per cent of its workforce and replace its chief content officer, Bela Bajaria, with Peter Rice.
• Shares fell 4.1 per cent after hours.