Netflix gains 13.1 million subscribers in 4th quarter
Netflix reported a record increase of 13.1 million subscribers in the fourth quarter of last year, according to its financial results released late Tuesday.
cumhuriyet.com.trThe streaming service's paid memberships surged to 260.8 million by the end of 2023.
Netflix posted earnings of $2.11 per share for the quarter ending December 2023, falling short of market expectations. This shortfall was attributed to a non-cash loss caused by currency exchange rates.
The company's net income for October-December 2023 soared to $937.8 million, a significant rise from $55.3 million in the same period in 2022.
Revenue for the fourth quarter increased by 12.5% year-over-year, reaching $8.83 billion, up from $7.85 billion.
Looking ahead, Netflix has raised its full-year operating margin forecast for 2024 to 24%, up from its previous range of 22% to 23%.