11:14 AM EDT, 10/18/2024 (MT Newswires) -- Netflix ( NFLX ) provided "encouraging" 2025 revenue guidance and reported "strong" net subscriber additions in the third quarter, Wedbush Securities said in a note Friday.

"The primary driver of this surge will be a more robust content slate than we have seen in 2024," Wedbush said in a Friday note following Netflix's ( NFLX ) Q3 results released Thursday.

The firm said the company's gain of 5.1 million net paid subscribers in the quarter exceeded the consensus of 4 million.

Wedbush said Netflix's ( NFLX ) results for the quarter were "solid," with revenue topping consensus, guidance and the firm's estimate.

Wedbush boosted its price target on Netflix ( NFLX ) to $800 from $775 and maintained its outperform rating.

Netflix ( NFLX ) shares advanced more than 10% in recent Friday trading.

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