Netflix Shares Take Off After Earnings

 

Shares in streaming media giant Netflix were up $20 in after-hours trading after reporting knock-out fourth quarter earnings that exceeded expectations.

Netflix reported revenues of $3.28 billion in the fourth quarter, up 32.6% from the year before. The company added 8.33 million net new memberships and now has 110.6 million paid memberships worldwide. Paid memberships in the U.S. were 52.81 million, an increase of 1.98 million.

Internationally, Netflix added 6.36 million memberships (compared with guidance of 5.05 million), a new record for quarterly net adds for this segment.

Netflix shares closed Monday trading at $227.58, up $7.12 for another all-time high. After-hours trading was up over $20 and the company’s market capitalization is over $100 billion.

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