Netflix says its subscriber growth slowed dramatically during the summer, a sign that the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off. The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than industry analysts had projected. Netflix also projected its revenue in the current quarter would rise faster than analysts expected. The strong financial performance eclipsed any worries about slowing subscriber growth as Netflix’s shares rose nearly 4% in extended trading.
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