Netflix has reported its largest-ever fourth-quarter subscriber growth, adding 13.1 million subscribers, surpassing projections of 8.97 million. Fueled by popular shows like “The Crown” and strategic investments, the streaming giant’s robust performance contributed to an 8.3% surge in its stock during after-hours trading.
24 January 2024 – On Tuesday, streaming giant Netflix (NFLX.O) exceeded Wall Street expectations by adding a record-breaking 13.1 million subscribers in the fourth quarter of 2023, outpacing the projected gains of 8.97 million. Fueled by hit shows like the final season of “The Crown” and original content such as David Fincher’s “The Killer,” Netflix’s total subscriber base reached an impressive 260 million. Although per-share earnings fell short of consensus estimates due to a noncash loss related to currency exchange rates, the company’s stock surged 8.3% in after-hours trading. – ref: Reuters
