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Shares of Netflix soared more than 10% after the company posted earnings that beat on the top and bottom line after the closing bell Tuesday.
The company surpassed 300 million paid memberships, a record addition of 19 million subscribers. The company said the growth 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, 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.
Here are the numbers for the company’s most recent quarter:
- Earnings per share: $4.27 vs. $4.20, according to LSEG
- Revenue: $10.25 billion vs. $10.11 billion, according to LSEG
- Paid memberships: 301.63 million vs. 290.9 million, according to StreetAccount
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