Netflix exceeds estimates for paid subscribers
(Reuters) – Netflix Inc (NASDAQ 🙂 surpassed Wall Street’s estimates for paid subscribers for the vacation quarter on Tuesday as its originals like “Bridgerton” and “The Queen’s Gambit” helped attract more viewers due to new COVID-19 restrictions To attract home.
According to Refinitiv’s IBES data, the company added 8.51 million paid subscribers in the fourth quarter ended December 31, beating analysts’ estimates of 6.1 million.
Movie theaters and restaurants have stayed closed in major economies to contain the surge in COVID-19 cases and a new variant of the virus. Many film studios have had to delay their releases and increase demand for original Netflix shows and films.
The Los Gatos, California-based company’s shares rose 6.8% in expanded trading.
Revenue rose to $ 6.64 billion from $ 5.47 billion in the quarter, above estimates of $ 6.63 billion.
Net income fell from $ 587 million, or $ 1.30 per share last year, to $ 542.2 million, or $ 1.19 per share.
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