Streaming giant Netflix, Inc. (NASDAQ: NFLX) Tuesday reported an increase in fourth-quarter revenue and earnings. The top line also exceeded analysts’ estimates.
Net income came in at $938 million or $2.11 per share in Q4, compared to $55 million or $0.12 per share in the corresponding period of 2022. Earnings missed the market’s projection.
The bottom line benefitted from a 12.5% increase in fourth-quarter revenues to $8.83 billion. Analysts had forecast a slower growth. The company had a total of 260.28 million paid members at the end of the quarter, up 13% year-over-year.