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The Dow Jones Industrial Average dropped about 160 points on Friday morning, while other major stock indexes rose, partly driven by Netflix’s strong earnings report.
After the opening bell, the Dow fell 162 points, or 0.4%, while the S&P 500 gained 0.2%. The tech-heavy Nasdaq composite popped up 0.6%.
Netflix stock rises on strong earnings
Video streaming could have been the end of TV commercials, but now even Netflix (NFLX+10.44%) is making its advertising business a “priority.” This comes as the streaming giant shifts its focus from subscriber growth to profit.
Netflix (NFLX+10.44%) stock rose more than 10% Friday morning following an impressive earnings report Thursday. It added more than five million paid subscribers in the third quarter of 2024, outperforming Wall Street expectations of 3.5 million.
