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Netflix reports Q4'16 subscriber beat; shares jump


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Netflix reports Q4'16 subscriber beat; shares jump

Netflix Inc. on Jan. 18 reported a massive quarter for subscriber growth.

The company added 7.1 million net new members globally in the fourth quarter of 2016, compared to a forecast of 5.2 million and a prior-year period figure of 5.6 million. The result represents a subscriber-growth record for Netflix, which came during the quarter of its 10-year anniversary of its streaming service. That result combines 1.9 million net U.S. additions and 5.1 million international additions.

Looking forward, the company expects 5.2 million net member additions in the first quarter, with 1.5 million in the U.S. and 3.7 million internationally.

Besides catapulting the company's shares more than 8% in after-hours speculation, the results streamed to the balance sheet. The company grew revenue by 35% to $8.3 billion.

Net income for the fourth quarter of 2016 came to $67 million, or 15 cents per share, up from $43 million, or 10 cents per share, in the same period a year-ago.