Following Tuesday’s closing bell, Netflix reported results that exceeded both the top and bottom lines, causing its shares to jump by almost 10%.
The fourth quarter’s revenue, which exceeded Wall Street’s prediction of $10.11 billion, increased 16% year over year to $10.25 billion.
The business also added a record 19 million new customers, surpassing 300 million paying memberships. The company claimed that its better product, content slate, and normal fourth-quarter seasonality were the main drivers of the gain.
The figures for the most recent quarter of the business are as follows:
-
Earnings per share:
$4.27 vs. $4.20, according to LSEG -
Revenue:
$10.25 billion vs. $10.11 billion, according to LSEG -
Paid memberships:
301.63 million vs. 290.9 million, according to StreetAccount
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