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Actions Netflix rose more than 10% after the company posted earnings that beat its top and bottom lines after Tuesday’s closing bell.
The company surpassed 300 million paid memberships, a record increase of 19 million subscribers. The company said the increase was driven by its content slate, improved product and typical fourth-quarter seasonality.
Net income for the period was $1.87 billion, or $4.27 per share, compared with $938 million, or $2.11 per share, in the same quarter a year earlier. Fourth-quarter revenue jumped 16% year-over-year to $10.25 billion, topping Wall Street’s forecast of $10.11 billion.
Here are the numbers for the company’s most recent quarter:
- Earnings per share: $4.27 vs. $4.20, according to LSEG
- income: $10.25 billion vs. $10.11 billion, according to LSEG
- Paid Membership: 301.63 million versus 290.9 million, according to StreetAccount
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