Netflix far exceeds forecasts, adding 13 million new subscribers in the fourth quarter of 2023.

First modification: 01/24/2024 – 16:51

1 min

Netflix’s turnover in the last quarter of 2023 reached $8.8 billion, which is 12.5% ​​more than in the same period last year, the result also exceeded analysts’ forecasts.

The firm expects first-quarter 2024 billing growth to be 13% quarter-over-quarter, with revenue of more than $9 billion and profit of $2 billion.

In the October-December period, the California-based group’s net income was slightly below expectations, amounting to $938 million versus the $990 million Wall Street had expected. In any case, this figure is much higher than the 55 million in the same quarter last year.

The company’s shares rose more than 7% in after-hours electronic trading on Wall Street.

“We think there is plenty of room for growth as streaming expands,” Netflix co-CEOs Ted Sarandos and Greg Peters said in a statement.

At the end of the year, the final seasons of series such as Sex Education or The Crown attracted large audiences, as did Berlin, based on the success of Bappel House.

Netflix announced earlier Tuesday that it had reached a $5 billion deal to stream the American professional league WWE online for 10 years, a major step for the platform’s entry into the world of sports.

The deal includes U.S. broadcast exclusivity for World Wrestling Entertainment’s (WWE) flagship program “Raw” beginning in January 2025, the company said in a statement.

Outside the US, Netflix will host all WWE programming, which is a viewership phenomenon, he noted in a document filed with the SEC, the US securities regulator.

© 2024 AFP