Netflix added a far-better-than-expected 13 million subscribers to reach 260.3 million globally as of the end of 2023. The company missed earnings per share forecasts and barely edged Wall Street expectations for total revenue as it faced tricky comparisons with the year-ago quarter and continued impact from a recent price increase.
Wall Street analysts had predicted the company would add between 8 million and 9 million subscribers in the period. Their consensus called for revenue of $8.71 billion and EPS of $2.20.
The actual top- and bottom-line figures came in at $8.8 billion and $2.11, respectively. RELATED: Netflix Gets In The Ring, Locking Up WWE’s ‘Monday Night Raw’ In 10-Year, $5B-Plus Deal For Longtime TV Staple Two of the company’s ongoing initiatives, advertising and paid password sharing, continued to yield results in the quarter.
Last November, Netflix said its $7-a-month ad tier had generated 15 million monthly active users, rising to 23 million by this month, according to internal projections.
Read more on deadline.com
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