Analysts predicted live sports might power a Netflix subscriber beat. But as the company trounced the expectations, management said sports drove only a “small minority” of additions.
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Netflix shares soar as company reports surging revenue, tops 300 million subscribers
Netflix Tops 300 Million Subscribers Globally, Adds Record-Breaking 19 Million in Q4
Netflix shares surged 10% in after-hours trading on Tuesday as the streamer easily beat Wall Street expectations on earnings per share and revenue and surpassed 300 million subscribers globally after adding a whopping 18.9 million in its fourth quarter of 2024. Here are the top-line results:
Netflix shares soar on price hikes and record subscriber gains
Netflix reaffirmed its dominance of the streaming video market on Tuesday, as its mixture of live sporting events, popular returning series - and singular moments, such as a football halftime performance by Beyonce - helped attract a record number of subscribers over the holiday quarter.
Netflix added 18.9 million subscribers in its holiday quarter, blowing past Wall Street's forecasts, with live sporting events and the return of its popular South Korean series "Squid Game" attracting a record number of new customers,
Live Updates Make sure to refresh this page periodically for updates. What Will Netflix Forecast in the First Quarter? 2:53 pm Below we previewed Netflix’s expected fourth-quarter earnings, but another ara to watch will be what the company forecasts next quarter.
A strong slate of recent original shows and live events is likely to have encouraged people to sign up for the streaming service.
Netflix is raising prices in the US to $17.99 for its standard plan. The hike comes as the streamer crushed expectations for subscriber growth.
Netflix Inc. closed 2024 with its biggest quarterly subscriber gain in history, benefitting from its first major live sporting events and the return of Squid Game.
The streaming service says acquiring the rights to stream full seasons of sport makes no economic sense, despite success with the Jake Paul-Mike Tyson boxing match.
Check out this evening’s top movers from around Wall Street, compiled by The Fly. Invest with Confidence: Follow TipRanks' Top Wall
Wall Street will closely watch the streamer's ad-supported subscriber numbers. Bitcoin hits a new high ahead of Trump's inauguration. TikTok restores U.S. service after going dark.
The 2025 inauguration of Donald Trump featured a Comic-Con-esque official speech, followed by a longer, less filtered address to supporters.
Trump has promised dozens of executive orders on his first day, touching on everything from immigration to trade to delaying the implementation of the ban on social media site TikTok.
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