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.
There are multiple reports that talks are underway for a potential merger of Warner Brothers Discovery and Paramount Global.
Stocks jumped after the opening bell on Thursday a day after Wall Street suffered its worst loss since October.
Dunkin said it's removing coconut milk from the menu.
Power Brands is recalling two of its air fryer models following reports of burns.
With only a few days until Christmas, people are still scrambling to buy gifts for friends and family. Claudia Lombana, consumer and shopping expert, joined Cheddar News to provide tips on how to budget for those gifts.
With the New Year around the corner, it's time to start thinking about resolutions. Many folks begin to think about saving money or cutting down on bills. Caleb Silver, editor-in-chief of Investopedia, joined Cheddar News to provide some tips on tracking debt and staying organized.
Half of U.S. states are raising their minimum wage next year.
Sony's PlayStation 5 console has now passed 50 million units sold.
FedEx decreased its full-year revenue forecast after reporting lower-than-expected quarterly profits in its latest results.
Cora is among dozens of young kids across the U.S. poisoned by lead linked to tainted pouches of the cinnamon-and-fruit puree
