Netflix added 8.3 million net new subscribers. The forecast was 6.3 million.
Investors sent Netflix Inc. (NFLX) stock on a rampage after hours Monday. Share values rose nearly 10%. This added enough value to propel the company to a $100 billion valuation by market capitalization. The move followed very favorable fourth-quarter results.
Netflix beat revenue expectations by just under $10 million. This was exactly where Wall Street predicted: 41 cents a share. But the company blew net subscription additions out of the water. They enrolled 8.3 million new net subscribers. Furthermore, this represented an 18% gain over the same period last year. And this was well above the company’s forecast of 6.3 million. In addition, it handily beat the analyst consensus forecast of 6.37 million.