Netflix’s surge in subscribers boosted 2023 Q4 revenue to $8.83bn

<img width="250" height="167" src="×167.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="×167.jpg 250w,×467.jpg 700w,×513.jpg 768w,×80.jpg 120w,×164.jpg 245w,×334.jpg 500w, 1254w" sizes="(max-width: 250px) 100vw, 250px" /><p><span data-contrast="auto">In 2022, the company forecasted a 9 million subscriber gain, which would bring approximately 30 million net additions for the full year. NFLX’s revenue reports surpassed Wall Street’s prediction of $8.71bn, instead showing a quarterly revenue of $8.83bn, a 12.5% increase compared to the same period in 2022.</span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p>
<p><span data-contrast="auto">The streaming giant sent waves through the film and TV world last year when it announced a crackdown on password sharing, increased ad-supported revenue and price hikes on specific subscription tiers. <a href="" target="_blank" rel="noopener">NFLX</a> expects its Q1 revenue for this year to reach $9.24bn, aligning closely with its previous expectations announced in 2023 of $9.28bn.</span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p>
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<p><span data-contrast="auto">Earnings per share (EPS) fell short of estimates at $2.11, below the predicted Q4 figure of $2.20, while the EPS estimates for 2022 sat at a less-than-poor $0.12. That being said, the platform anticipates its Q1 of 2024 EPS to be $4.49, a $0.40 increase from its original $4.09 estimate.</span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p>
<p><span data-contrast="auto">Despite challenges from competitors, password sharing and a decrease in streaming usage due to a year of typical working hours (streaming usage during the pandemic increased by 37%, according to Screen Rant), NFLX remains strong in the market. Its new 10-year partnership with WWE is thought to contribute to its continued popularity, with the deal valued at over $5bn.</span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p>
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