Netflix shares pop 10% as streamer adds 13.1 million subscribers, tops revenue estimates
Publishing timestamp: 2024-01-24 11:57:15
Summary
Netflix added 13.1 million subscribers in the fourth quarter, surpassing Wall Street's expectations. The company now has a record 260.8 million paid subscribers. Netflix also reported higher revenue and net income for the quarter. The company plans to focus on improving profits and expanding its ad-supported service. It is not interested in acquiring traditional entertainment companies but will partner with content makers. Netflix is also looking to scale its advertising business and make its ad tier more attractive to advertisers.
Sentiment: POSITIVE
Tickers: NFLX,
Keywords: los angeles, netflix inc, business, breaking news: business, business news, entertainment, breaking news: earnings, earnings, movies, life,
Source: https://www.cnbc.com/2024/01/23/netflix-nflx-earnings-q4-2023.html