Netflix hits record high on blockbuster subscriber gains, price hikes
Shares of streaming giant Netflix NFLX.O rise 14.4% to hit a record high of $995.21 in premarket trading
Netflix said on Tuesday it added 18.9 mln subscribers in Q4 vs estimates of 9.6 mln - LSEG
Company has total global subscriber base of 301.6 million customers
NFLX says it will increase prices for most plans in the U.S., Canada, Portugal and Argentina
In U.S., Netflix's ad-supported service will cost $7.99 a month, up from $6.99
"Netflix has proved its success is not waning – it is going from strength to strength and continues to be king of the streaming platforms," says Dan Coatsworth, investment analyst at AJ Bell
"It has achieved the perfect four – every quarter in the 2024 financial year beat earnings expectations. The last time it achieved that status was in 2018"
Q4 revenue came in at $10.25 bln vs ests. of $10.11 bln
Stock had risen 83% in 2024
(Reporting by Harshita Mary Varghese in Bengaluru)
((HarshitaMary.Varghese@thomsonreuters.com))
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