Todd Spangler NY Digital EditorNetflix shares saw their biggest single-day gains in four years after reporting strong Q4 subscriber growth that topped Wall Street expectations.
The company also said it was “very close” to achieving sustainable positive free cash flow and that it was contemplating stock buybacks.Bullish investors pushed Netflix stock up more than 14% in midmorning trading to over $572 per share, near its all-time intraday high of $577.77 per share (set in July 2020).The stock’s spike came after Netflix reported adding 8.51 million paid streaming subscribers in Q4, about 2.5 million more than expected, to stand at 203.7 million worldwide at the end of the year.
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