
Netflix just released its fourth quarter earnings report, sending the stock up nearly 9 percent (as of 4:17pm Eastern) in after-hours trading.
The company reported revenue of $1.82 billion, up from $1.48 billion during the same quarter last year, and earnings per share of 10 cents. Analysts had been predicting revenue of $1.83 billion and EPS of 2 cents. So that’s a very slight a miss on revenue, but a big win on earnings/profitability (apparently a big goal for 2016).
Investors have been paying close attention to Netflix’s subscriber numbers, with the stock tumbling after Q3’s disappointing growth. This time, Netflix reported 1.56 million new subscribers in the US, coming short of the company’s projections of 1.65 million, but exceeding its 3.5 million global project with international net additions of 4.04 million. So it added 5.6 million subscribers total, and says it now has 75 million members globally.
Looking beyond Q4, the company has announced that it’s expanding into 130 new countries (just not China), which is probably why it’s predicting growth of 6 million members this quarter. It’s also said that it’s doubling down on scripted shows this year — CEO Reed Hastings definitely doesn’t think there’s too much TV.
Comments
Something to say?
Log in or Sign up for free