Netflix modestly exceeded expectations in its latest Q4 earnings report with higher earnings per share and revenue, sending stocks up in after-hours trading.
Investors were eager to see how the company fared following the launch of Disney+ and AppleTV+ in November and in light of the upcoming launch of NBCUniversal’s Peacock streaming service.
Earnings per share were $1.30 compared to an estimate of $0.51, and overall revenue was $5.47 billion compared to an estimate of $5.45 billion.
Year over year growth remained steady at 30.6 percent, slightly down from the last quarter’s rate of 31.1 percent, but above prior quarters in 2019.
The number of net paid subscribers, perhaps the most anticipated metric from the streaming company, was also up at 8.76 million. While this was not quite the 9.7 million anticipated by bullish Goldman Sachs analysts, it did beat the 7.6 million forecast by Netflix and other analysts.
The total number of memberships was 167 million, up from 158 million in the last quarter, with a year over year growth of 20 percent.
The number of U.S. subscribers, however, came in at 550,000, compared to an estimate of 589,000.
In a letter to shareholders, Netflix highlighted its slate of original programming, including The Witcher, which debuted in December and is tracking to become its “biggest season one TV series ever” with 76 million member households choosing to tune into the action-fantasy adventure.
As U.S. competition grows, Netflix appears primed to produce more content tailored to different markets around the world.
“We know that local audiences love local stories. In fact, local originals were the most popular 2019 titles in many countries, including India, Korea, Japan, Turkey, Thailand, Sweden, and the UK,” the company said in its shareholder letter.
It's Women's History Month and Tuesday marks Equal Pay Day. To honor the occasion, Laura Gassner Otting, author of Limitless: How to Ignore Everybody, Carve Your Own Path, and Live Your Best Life, spoke with Cheddar News' correspondent Shannon LaNier about how to properly value yourself and get the pay you deserve, regardless of your gender.
Southwest Airlines Co. on Tuesday outlined a plan to strengthen its operational resilience after a winter storm late last year led to widespread cancellations and delays.
Novo Nordisk has announced that it's cutting the price of pre-filled insulin pens and vials by up 75 percent for people living with diabetes starting in January 2024.
Abhay Parasnis, the CEO and founder of Typeface, addressed the company's exposure to the collapse of Silicon Valley Bank. fo
Stocks are leaping on Wall Street Tuesday, as some of the most breathtaking moves from a manic Monday reverse course.
Facebook parent Meta is slashing another 10,000 jobs and will not fill 5,000 open positions as the social media pioneer cuts costs.
The latest consumer price index (CPI) shows prices rising 0.4 percent month-over-month in February, down from 0.5 percent in January, while the annual inflation is up 6 percent, down from 6.4 percent.
Good2Know is your daily dose of news that could impact your day to day.
A winter storm dumped heavy, wet snow in parts of the Northeast on Tuesday, causing tens of thousands of power outages, widespread school closings, dangerous road conditions and a plane to slide off a taxiway.
Silicon Valley Bank’s collapse rattled the technology industry that had been the bank's backbone, leaving shell-shocked entrepreneurs thankful for the government reprieve that saved their money while they mourned the loss of a place that served as a chummy club of innovation.
