Netflix added slightly more paid subscribers than wall street expected in the third quarter, but issued a soft forecast on Wednesday as it faces new competition from Disney and other major companies in the video streaming wars.

The July-September results represented a rebound from the previous quarter, when Netflix lost U.S. streaming customers for the first time in eight years and missed targets for new subscribers overseas. Netflix shares rose 8.7 percent in after-hours trading on Wednesday.

That performance, coupled with concerns about new competitors, weighed on Netflix shares, which fell 21 percent from the latest earnings report through regular trading on Wednesday.

From July to August, Netflix was boosted by new seasons of shows such as “Stranger Things” and ” 13 reasons why.” The company added 6.77 million paying customers worldwide, exceeding nearly 6.7 million average analyst expectations, according to IBES data from Refinitiv.

Looking ahead, the company predicts it will pick up 7.6 million customers in the final three months of this year. Analysts had expected a forecast of 9.4 million During this time, the company will release a new release of the film “the Crown” and Martin Scorsese’s ” the Irishman.”

But it will face new competition starting in November from Disney, a streaming service stocked with movies and TV shows from Disney, Marvel, Star wars, animation and other properties.

Apple Inc will also debut a much smaller streaming video service with original programming in November. V

Netflix argued that the new services would increase interest in the streaming video market as a whole.

“In our view, the likely outcome of the launch of these new services will be to accelerate the transition from linear TV to demand-driven entertainment,” the company wrote in a letter to investors.

For the third quarter, Netflix’s net income rose to $665 million, or $1.47 per share, in the quarter from $403 million, or 89 cents per share, a year earlier.

Total revenue rose to $5.25 billion from about $4 billion analysts on average had expected $5.52 billion.