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Netflix Adds Over 2.4 Million Subscribers

Netflix is reporting a boom in subscriber numbers, even after announcing price hikes that were met with member criticism, with more than 2.4 million new subscribers added to the streaming platform, according to CNBC.

Per the report, shares of Netflix skyrocketed more than 14% after the bell on Tuesday as the company posted results that were much better than initially anticipated on the top and bottom lines.

Netflix also reported the addition of 2.41 million net global subscribers which more than doubles what the company had projected last quarter.

Here are the results:

  • EPS: $3.10 vs. $2.13 per share, according to Refinitiv.
  • Revenue: $7.93 billion vs. $7.837 billion, according to Refinitiv survey.
  • Expected global paid net subscribers: Addition of 2.41 million subscribers vs. an addition of 1.09 million subscribers, according to StreetAccount estimates.

 

 

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