Monday, June 17, 2024
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Tech: Netflix blew past subscriber growth targets in its Q4 earnings, and the stock is soaring to record highs (NFLX)

Netflix reports Q4 earnings Monday, and rose to a record high during trading. Here’s analysis of subscribers, revenue, and EPS.
Netflix blew past subscriber growth targets both internationally and in the US in its Q4 earnings Monday.
The stock soared to record highs in after-hours trading following the news.
Netflix came in slightly above Wall Street expectations on revenue, and in-line with estimates on EPS.
The streaming giant turned in rosy growth guidance for Q1, well above Wall Street expectations. This was an area of concern for some analysts before earnings, given the lack of a big hit like “Stranger Things” (Q4) to anchor its originals lineup in Q1.
This result should wash away any lingering doubts about the effect Netflix’s US price hike would have on subscriber retention, as Netflix posted 1.98 million net adds in the US in Q4, well above Wall Street forecasts of 1.29 million, and its own guidance of 1.25 million. It also blew past international growth targets.
Here are the key numbers for Netflix’s Q4 earnings:
Q4 EPS (GAAP): $0.41 versus Wall Street estimates $0.41.
Q4 revenue: $3.28 billion versus Wall Street estimates of $3.28 billion.
Q4 US subscriber growth (net additions): 1.98 million net adds, versus Wall Street estimates of 1.29 million net adds, and Netflix forecast of 1.25 million.
Q4 international subscriber growth (net additions): 6.36 million net adds, versus Wall Street estimates of 5.05 million, and Netflix forecast of 5.05 million.
Q1 US subscriber growth guidance (net additions): 1.45 million net adds, versus Wall Street estimates of 1.28 million net adds.
Q1 international subscriber growth guidance (net additions): 4.9 million net adds, versus Wall Street estimates of 3.90 million net adds.
This post will be updated as information becomes available.

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