US EditionNetflix adds 13.1 million subscribers, tops revenue estimates as membership push gains steam
- Netflix exceeded revenue expectations with a 12.5% YoY increase, reaching $8.83 billion, driven by a rise in average paid subscriptions.
- In Q4 2023, Netflix added 13.1 million paid subscribers, surpassing predictions and setting a record high of 260.8 million paid subscribers.
- Netflix reported a 160% increase in net income to $938 million for Q4 2023, resulting in an 8.6% increase in the stock price.
130 Articles
130 Articles
Netflix shares surge after biggest subscriber spike since the pandemic
By Lucas Shaw Netflix Inc. shares surged after the streaming giant reported its best quarter of growth since viewers were stuck at home in the early days of the pandemic. The company signed up 13.1 million new customers in the final three months of 2023, exceeding Wall Street’s estimate of 8.91 million and beating projections in every region of the world. Netflix added more than 5 million customers in Europe, the Middle East and Africa alone. Sa…
Netflix has the lowest subscriber abandonment rate of all the streaming platforms available on the market, demonstrating the loyalty of its users.
What has led to growth.
Netflix subscriber growth blows past Wall Street estimates, stock rises
Streaming giant Netflix flew past Wall Street’s estimates for its subscriber growth in its fourth-quarter earnings release after the bell on Tuesday, which sent the company’s stock surging into Wednesday’s trading day. The company announced that it added 13.1 million subscribers in the fourth quarter, which easily exceeded projected gains of 8.97 million subscribers. Those gains gave Netflix its largest-ever fourth quarter subscriber growth and …
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