NFLX: Netflix Stock Rises 9% After Streamer Gains 13.1 Million Users in Fourth Quarter

It was the streaming giant’s best quarterly subscriber growth since the stay-at-home lockdowns during the Covid pandemic.

• Netflix stock NFLX shot sharply higher by 9% in after-hours trading Tuesday when the company revealed its fourth-quarter earnings report after the closing bell. Solid subscriber growth and revenue that topped Wall Street consensus powered the rally.
• The streaming giant picked up 13.1 million new paid subscribers in the December quarter, comfortably beating the third quarter’s 8.8 million net additions and hitting a record of 260.8 million subscribers in total. It was the strongest quarterly user growth since the Covid days of 2020 when people hunkered down and binged on their favorite shows.
• Revenue for the entertainment mainstay hit $8.8 billion, up 12.5% from a year ago, and topping Wall Street estimates for $8.7 billion. Profits landed at $2.11 a share as net income arrived at $938 million. For the current quarter ending March, the streamer expects a 13.2% revenue increase to $9.2 billion and profits of $1.97 billion.