Business News Asia
The major US streaming service, Netflix, has revealed that its global subscriber numbers for Q4 2022 exceeded expectations, driving its stock prices up more than 7% on the New York Stock Exchange this morning. Despite this, the company’s earnings per share came in lower than expected.
According to Netflix, earnings per share for Q4 2022 were 12 cents, falling short of Refinitiv analysts’ predictions of 45 cents, while revenue came in at $7.85 billion, meeting expectations.
The company reported that its global subscriber count rose by 7.66 million, surpassing the expected 4.57 million.
Looking ahead, Netflix predicts that revenue for Q1 2023 will increase by 4%, above the anticipated 3.7% increase.