Netflix slightly beats revenue estimates
Digest more
Netflix, Warner Bros.
Digest more
Netflix reported fourth-quarter results that were slightly above estimates, but shares fell over 4% in after-hours trading.
The added spending will weigh on the company’s profit in the short term. For the current quarter, Netflix forecasts earnings of 76 cents a share, below Wall Street estimates of 82 cents. Sales will be $12.
The streaming pioneer narrowly topped Street consensus for revenues with $12.05B (reflecting year-over-year growth of 17.6%) and boosted operating income by 30% (to $2.96B). Operating margin rose from a year-ago 22.2% to 24.5%.
The streaming giant is expected to report revenue of $11.96 billion, per Bloomberg consensus data. That's in line with what the company forecasted. In the fourth quarter of last year, the company posted revenue of $10.25 billion.
4hon MSN
Netflix shares drop despite surpassing subscriber milestone, revenue boost from 'Stranger Things'
Netflix squeaked Wall Street’s revenue estimates for its holiday quarter on Tuesday, as the streaming giant remains locked in a fierce bidding war for Warner Bros Discovery, sending its shares down 4% in after-hours trading.