Netflix added nearly 19 million subscribers in the fourth quarter, reaching 301.6 million globally, thanks to a wave of high-impact programming in the final weeks of 2024.
The tally, a company record for the biggest subscriber jump in a quarter, far surpassed the consensus expectation of Wall Street analysts for 9.8 million subscriber additions. Shares in Netflix surged more than 10% in after-hours trading on the results.
This is the last quarter when the streaming leader plans to report subscriber numbers on a regular tempo, shifting its emphasis to revenue and operating margin along with audience metrics like engagement.
The Street was looking for revenue of $10.1 billion and earnings per share of $4.21. Netflix exceeded both goals, with EPS of $4.27 and revenue of $10.247 billion.
Watch on Deadline
The quarter, which ended Dec. 31, featured the Jake Paul-Mike Tyson boxing spectacle,
...
Keep reading this article on DEADLINE.
