Netflix has reached a milestone after delivering favorable quarterly results. During the first quarter, the stock value of the company was tipping a bit over $100 billion.
The stock price rose by more than 3% after Netflix posted the fourth quarter results, that the company itself referred to as “beautiful”.
During the quarter, the powerhouse received a surprising 8.3 million new subscribers, as compared to an expected growth of 6.3 million, according to the fact company, Factset. In total, the company now has 110.6 million paying subscribers.
Netflix has had quarterly earnings of $ 186 million (NOK 1.46 billion) this year, as compared with $ 67 million the year before. Turnover increased by 33 percent, as compared to last year which was $ 3.3 billion (NOK 25.9 billion).
“We had a beautiful fourth quarter where we completed a fantastic year where internet TV has grown globally,” the company writes in a letter to its shareholders.
© NTB Scanpix / Norway Today