In Q4'23, like the quarter before, our ads membership increased by nearly 70% quarter over quarter, supported by improvements in our offering." Finally, the company struck a bullish tone when speaking about bigger picture competition, saying that industry consolidating is expected but that its opportunity remains vast. On the advertising, the company said that "scaling our ads business represents an opportunity to tap into significant new revenue and profit pools over the medium to longer term. The company's paid sharing and ad-supported product tier had added to uncertainty about the direction of the company and its fundamentals when first announced, but this quarter reassured the market that these are likely great decisions on Netflix management's part (although it is still early). The company also upped its full year operating margin guidance and gave EPS guidance above expectations. Looking ahead, the company called for 16% revenue growth year on year when excluding the impacts of foreign exchange, which was robust. ARPU also outperformed slightly in every geography except Asia-Pacific, driving the revenue beat. The 13.1 million net adds from last quarter were well above expectations of 8.8 million. Shares of streaming video giant Netflix (NASDAQ: NFLX) jumped 7.9% in the afternoon session after the company reported fourth quarter results that exceeded Wall Street's revenue expectations with strong user growth. Why Is Netflix (NFLX) Stock Soaring Today What Happened:
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