DVD rental service Netflix (NFLX) will blow away its Q4 subscriber growth forecast, CFO Barry McCarthy said today at an investor conference. That's more good news for Netflix investors: Earlier this week, McCarthy boasted that the company was having a "remarkably strong" quarter despite the U.S. economic collapse.
But Netflix will be beating significantly reduced expectations; the company has already lowered its Q4 growth estimates twice this fall.
So when Netflix signs up its 9.15 millionth subscriber in the next couple of days -- the high end of its growth forecast, representing almost 500,000 net new subscribers this quarter -- that'll still be below previous high-end forecasts of up to 9.25 million or 9.7 million subscribers.
The upshot: Netflix typically signs up a lot of subscribers around Christmas. So there's still plenty of potential growth left for Netflix this quarter, especially as its Internet movie streaming service keeps getting better.
See Also:
Netflix CFO: Having A Remarkably Strong Quarter
No Winner Yet In Netflix $1 Million Coding Contest
Netflix Cuts Q4 Guidance Again, October Growth Down 30%
Disclosure: Mathias Döpfner, CEO of Business Insider's parent company, Axel Springer, is a Netflix board member.
