From “investing.com” is the name of a media company.:

Netflix reported fourth-quarter earnings that fell short of expectations but saw revenue exceed estimates thanks to cost-cutting measures and a strong lineup of shows that boosted subscriber numbers. The company’s shares surged 8% in after-hours trading following the report.

Earnings per share were $2.11 on revenue of $8.83 billion, topping analyst expectations of $2.21 per share on revenue of $8.72 billion. Netflix added 13.12 million new subscribers, far surpassing estimates and boosting its operating margin to 17%.

Despite the blowout subscriber growth, Netflix anticipates a slowdown in growth for the first quarter of 2024 due to seasonal factors and a strengthening dollar. However, the company remains optimistic, forecasting double-digit revenue growth for the year and a significant increase in full-year guidance.



Read more: Netflix Q4 revenue tops estimates on blowout subscriber growth By Investing.com