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Netflix Stock Surges To 9-Month High As Wall Street Cheers Q4 Subscriber Gains, Smoothly Executed Succession Plan

21.01.2023 - 02:13

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deadline.com

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Netflix stock closed the week at its highest level since last April, rising more than 8% Friday to end at $342.50 after the company reported strong subscriber growth and executed a smooth handoff atop its executive ranks.

A darling of investors for most of its two-plus decades of public trading, Netflix stock appears to have its mojo back and has already risen 15% since 2023 began.

The catalyst for today’s upswing, which came amid nearly triple the stock’s normal trading volume, was Thursday’s fourth-quarter earnings report.

The company said it added almost 7.7 million global subscribers in the period, reaching 230.75 million, far exceeding analysts’ consensus forecast.

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deadline.com

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deadline.com

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deadline.com

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