After a period of smaller-than-expected content slate due to a drop in production, the Los Gatos-based video streaming platform added around 8.3 million new subscribers in the final three months of fiscal 2021. That brought its total subscriber number to 221.8 million, which is up 9% year-over-year.
The membership growth translated into a 16% rise in total revenues to $7.71 billion. It is in line with the consensus estimate.
The company generated $607 million or $1.33 per share of net profit during the three-month period, compared to $542 million or $1.19 per share in the fourth quarter of 2020. The bottom-line came in well above experts’ projection.
Read management/analysts’ comments on Netflix’s Q4 2021 earnings
Netflix’s stock has been on a downward spiral after peaking in mid-November. It has lost 13% so far this year. The shares closed Thursday’s trading lower and lost further during the extended session soon after the announcement.
