Netflix Shares Plunge 11% as Subscriber Growth Slows
LAHORE MIRROR (Monitoring Desk)– Netflix reported fourth-quarter earnings after the bell on Thursday. The streamer beat on both the top and bottom lines, but shares plunged 11% in after-hours trading.
Here are the key numbers:
- Earnings per share (EPS): $1.33 vs 82 cents expected in a Refinitiv survey of analysts.
- Revenue: $7.71 billion vs $7.71 billion expected, according to Refinitiv.
- Global paid net subscriber additions: 8.28 million vs 8.19 million expected, according to StreetAccount estimates
Netflix and analysts had anticipated a large jump in consumers toward the end of 2021 when the company released new TV shows and movies that had been pushed to the back half of the year.
The company added 8.28 million global paid net subscribers in the fourth quarter. Analysts had expected the company to add 8.19 million global paid net subscribers, according to StreetAccount estimates. Netflix added 4.4 million subscribers in the third quarter.