Netflix reported fourth-quarter earnings that beat analyst estimates for both revenue and subscriber additions. Revenue was $8.83 billion, beating estimates of $8.71 billion and up 12.5% year-over-year. Netflix gained 13.12 million new subscribers in 2023, exceeding the projected 9 million and resulting in a total of 30 million net additions. Average revenue per member was up 1% year-over-year to $9.99, in line with Netflix's expectations. Operating margins were 16.9% for the fourth quarter and 21% for full year 2023, ahead of the company's 20% target.
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00:00 It's Benzinga and here's what's on the block.
00:02 Netflix reported fourth quarter earnings that beat analyst estimates for both revenue and
00:06 subscriber additions. Revenue was 8.83 billion, beating estimates of 8.71 and up 12.5% year-over-year.
00:13 Netflix gained 13.12 million new subscribers in 2023, exceeding the projected 9 million,
00:18 resulting in a total of 30 million net additions. Average revenue per member was up 1% year-over-year
00:23 to 9.99, in line with Netflix's expectations. Operating margins were 16.9% for the fourth
00:29 quarter and 21% for full year 2023, ahead of the company's 20% target. Netflix got a Q1 2023
00:35 revenue of $9.24 billion, nearly meeting estimates of 9.28 and EPS of $4.49 versus $4.09 expected.
00:42 For all things money, visit Benzinga.com.