Mubasher – Ahmed Shawky: Netflix’s profits exceeded analysts’ estimates during the fourth quarter of last year, with the total number of subscribers exceeding 200 million subscribers for the first time.
The results of the American company, issued today, Tuesday, revealed: Higher net profits To $ 542 million ($ 1.19 per share) during the three months ending in December, compared to $ 587 million ($ 1.30 per share) during the same period of the previous year.
Analysts had expected that the earnings per share would be $ 1.39 per share.
While soared US company revenue To $ 6.6 billion during the fourth quarter, which is the same as analysts’ expectations, compared to $ 5.4 billion during the same period in 2019.
The American company added 8.51 million subscribers globally In the fourth quarter of 2020, compared to 8.76 million subscribers during the same period last year.
It was expected that the American company would add 6.47 million subscribers.
By the end of 2020, The total number reached 203.7 million subscribers to paid services for Netflix, for the first time ever.
Upon closing, Netflix’s share rose 0.8 percent to $ 501.7, and jumped about 11 percent in after-session trading.