Netflix Meets Earnings Expectations and Continues to Grow Subscription Base
Netflix reported earnings after the bell and hit on expectations. The company reported EPS of $0.41 and revenue of $3.286 billion. The streaming service did add far more customers than expected during the holiday season. Netflix gained 8.3 million subscribers globally, making Q4 a particularly strong quarter.
After the strong investor relations report, shares jumped more than 8% after hours. For the first time, Netflix's market capitalization passed $100 billion.
According to Daniel Ives, the Chief Strategy Officer and Head of Technology Research at GBH Insights, the media world is Netflix's oyster. The streaming company's biggest competition at this point is Hulu. However, Ives feels strongly about the potential future growth for Netflix heading further into 2018.
Netflix made other announcements during their earnings report. The company plans to raise capital in the high yield market. They also intend to grow their technology and development investments to over $1.3 billion. Netflix will spend between $1.7 and $8 billion on content in 2018.
Paul Verna of Insider Intelligence breaks down how the company is positioned, whether they can make their streaming service profitable, and the upper limit of streaming bundle prices.
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Facebook and Instagram users will start seeing labels on AI-generated images in their feeds. Hopefully this will save time for everyone zooming in each picture to see how many fingers someone's hand has.
