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Netflix Beats Q4 Subscriber Growth Target, But Mixed Financial Results Reflect Challenging Environment

20.01.2023 - 00:15

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deadline.com

deadline.com:

Netflix beat forecasts for subscriber gains for the fourth quarter and also edged revenue estimates, but pressure on earnings per share reflected broader challenges in the streaming business.

The company added almost 7.7 million subscribers during the fourth quarter, reaching 231 million globally. That was well ahead of Wall Street guidance.

Revenue came in at $7.82 billion, a touch below Wall Street analysts’ consensus expectation for $7.85 billion. Earnings per share of 12 cents were well below the forecast of 45 cents.

The company booked earnings per share of $1.33 in the year-ago quarter. Along with the stats, the company announced that co-founder Reed Hastings would be passing the Co-CEO baton to Greg Peters.

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20.01.2023 / 04:27

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20.01.2023 / 03:27

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20.01.2023 / 02:45

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19.01.2023 / 23:47

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deadline.com

12.01.2023 / 17:05

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