S&P Global Ratings on Feb. 21 revised its ratings outlook on Netflix Inc. to positive from stable on improved operating performance.
The rating agency also affirmed the company's B+ corporate credit rating. The B+ issue-level rating on the company's senior unsecured notes remain unchanged.
The outlook revision reflects the agency's expectation that Netflix will continue to demonstrate "significant" strength as the leading streaming video-on-demand service despite increasing competition.
The streaming giant reported fourth-quarter 2017 net income of $185.5 million, or 41 cents per share, compared to $66.7 million, or 15 cents per share, reported in the year-ago quarter. For the full year, net income came to $558.9 million, or $1.25 per share, compared to $186.7 million, or 43 cents per share, reported in full year 2016.
S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.