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.
As the Federal Reserve prepares to hold its annual economic conference in Jackson Hole on Friday and Saturday, its policymakers are trying to guide the U.S. economy toward something akin to what's happening in Jackson Hole.
Anyone in the U.S. who had an account at any time between May 24, 2007, and December 22, 2022, is eligible to receive a payment. The 2022 settlement resolves a lawsuit alleging that Facebook allowed millions of its users’ personal information to be fed to Cambridge Analytica, a firm that supported Donald Trump’s 2016 presidential campaign.
Irrigation might have saved Jackson's hay, but she and her husband rejected the idea about 10 years ago over the cost: as much as $75,000 for a new well and all the equipment. But now — with an extended drought and another U.S. heat wave this week that will broil her land about an hour northwest of Dallas for days in 100-degree-plus temperatures — Jackson said she is “kind of rethinking.”
