Netflix blows away expectations on subscriber numbers
Publishing timestamp: 2023-01-19 16:39:18
Summary
Netflix added 7.66 million paid subscribers during fourth quarter, more than 4.57 million Wall Street expected. Founder Reed Hastings is stepping down as co-CEO and will be executive chairman. Netflix's EPS missed largely due to loss related to euro-denominated debt, but its margins of 7% still topped Wall Street's expectations. This is first quarter that Netflix's new ad-supported service is included in its earnings results. Netflix touted new releases like television series "Wednesday," docuseries "Harry and Meghan" as well as Rian Johnson's film "Glass Onion" as popular content during quarter. Company predicts that revenue growth in first quarter 2023 will rise 4%, higher than 3.7% Wall Street is currently projecting.
Sentiment: POSITIVE
Tickers: NFLX,
Keywords: breaking news: business, earnings, entertainment, business, life, movies, netflix inc, breaking news: earnings, business news,
Source: https://www.cnbc.com/2023/01/19/netflix-nflx-earnings-q4-2022.html