Netflix shares soar as company reports surging revenue, tops 300 million subscribers
Shares of Netflix soared more than 13% Tuesday after the company posted fourth-quarter results that beat on the top and bottom lines.
Shares of Netflix soared more than 13% Tuesday after the company posted fourth-quarter results that beat on the top and bottom lines.
The company surpassed 300 million paid memberships during the quarter, adding a record 19 million subscribers. Netflix said the growth was driven by its content slate, improved product and typical fourth-quarter seasonality.
The company also shared that including “extra member accounts,” its global audience is estimated to be exceed 700 million.
Here’s how Netflix performed for its most recent quarter, ended Dec. 31, compared with Wall Street estimates:
Earnings per share: $4.27 vs. $4.20, according to LSEG
Rating: 5