Netflix Stock ( NASDAQ:NFLX )
Netflix ( NASDAQ:NFLX ) reported fourth-quarter 2022 earnings of $0.12 per share, falling 74.47% short of the Consensus Estimate. The figure fell 91% year on year.
Revenues of $7.85 billion increased 1.9% year on year but fell 0.18% short of the consensus mark. Revenues increased 10% year over year on a currency-neutral basis.
On a reported basis, average revenues per membership decreased 2% year over year but increased 5% on a foreign-exchange neutral basis.
The streaming service added 7.66 million paid subscribers globally, exceeding its previous estimate of 4.5 million users. In the last quarter, it added 8.28 million paid subscribers.
Netflix had 230.75 million paid subscribers worldwide at the end of the fourth quarter, up 4% year over year and exceeding our estimate of 227.59 million.
Despite growing competition from Amazon ( NASDAQ:AMZN ), Disney ( NASDAQ:DIS ), and Apple (NASDAQ:AAPL), Netflix benefited from a strong content portfolio in the reported quarter.
Following the announcement of the better-than-expected results, Netflix stock was nearly 6% in pre-market trading.
In the last year, Netflix stock has underperformed Apple and Disney while outperforming Amazon. While Netflix has lost 37.9% of its value, Apple, Disney, and Amazon have lost 17.8%, 32.9%, and 38.3%, ...
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