Shares of Netflix soared more than 10% Tuesday after the company posted fourth-quarter results that beat on the top and bottom lines.
The company surpassed 300 million paid memberships during the quarter, adding a record 19 million subscribers. Netflix said the growth was driven by its content slate, improved product and typical fourth-quarter seasonality.
The company also shared that including “extra member accounts,” its global audience is estimated to be exceed 700 million.
Here’s how Netflix performed for its most recent quarter, ended Dec. 31, compared with Wall Street estimates:
Earnings per share: $4.27 vs. $4.20, according to LSEGRevenue: $10.25 billion vs. $10.11 billion, according to LSEGPaid memberships: 301.63 million vs. 290.9 million, according to StreetAccount
Net income for the period was $1.87 billion, or $4.27 per share, up from $938 million, or $2.11 per share, during the same quarter a year earlier.
Revenue in the fourth quarter jumped 16% year-over-year, reaching $10.25 billion, higher than the $10.11 billion Wall Street had predicted.
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