Netflix beats on subscriber growth in Q4


Netflix ( posted better-than-expected revenue for Q4. The company also added 13.1 million net new subscribers in the quarter, which is a substantial beat over the 8.7 million net subscribers the company had forecast. This makes it the best-ever fourth quarter for new subscribers. Promising was that the growth was for all regions, and the company now has 260.3 million subscribers globally. posted a revenue of $8.8bn for Q4, which is 12.5% higher from a year ago and ahead of the company forecast of $8.7bn. However, EPS was four cents below forecast at $2.11 per share. Earnings included a $239m non-cash charge due to foreign exchange fluctuations on its Euro denominated debt
The company thinks Q1 profits of $4.49 per share is achievable which is higher than the consensus of $4.1 per share, although it expects subscriber growth to be down from Q4 (but higher than the 1.8 million added a year ago).

The company expects "healthy double-digit revenue growth" for 2024, adjusted for currency, with operating margins of 24% for the year. This is higher than the previous forecast of 22% to 23%.

Netflix bought back $2.5 billion worth of stock, leaving $8.4 billion remaining of its current authorisation.

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Russell Shor

Senior Market Specialist

Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.

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