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Netflix reported fourth-quarter net earnings of $47 million or 87 cents per share, on $596 million in revenue, a sharp climb from the same period a year ago.
Income for the quarter, which ended December 31, rose 52 percent and revenue grew 34 percent from the same quarter a year ago.
The big news came in the form of subscriber growth. Netflix reported that the total number of Netflix subscribers is now 20 million, and additional 3.08 million subscribers in the fourth quarter. This marked a 166 percent increase over the year-ago quarter.
Netflix predicted in October that it would add 2.7 million new subscribers for a total of 19.7 million new subscribers.
A consensus of financial analysts expected Netflix to report earnings of 71 cents a share on revenue of $598 million.
Investors didn't appear overly confident that Netflix would see a big quarter, or at least one that could continue justifying its lofty stock price. Netflix shares closed trading today at $183.03, down $3.71 or 2 percent. The stock has tripled in price this year.
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Income for the quarter, which ended December 31, rose 52 percent and revenue grew 34 percent from the same quarter a year ago.
The big news came in the form of subscriber growth. Netflix reported that the total number of Netflix subscribers is now 20 million, and additional 3.08 million subscribers in the fourth quarter. This marked a 166 percent increase over the year-ago quarter.
Netflix predicted in October that it would add 2.7 million new subscribers for a total of 19.7 million new subscribers.
A consensus of financial analysts expected Netflix to report earnings of 71 cents a share on revenue of $598 million.
Investors didn't appear overly confident that Netflix would see a big quarter, or at least one that could continue justifying its lofty stock price. Netflix shares closed trading today at $183.03, down $3.71 or 2 percent. The stock has tripled in price this year.
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