- The stock price of Netflix Inc (NASDAQ: NFLX) is trading at over 13% pre-market today. This is why it happened.
The stock price of Netflix Inc (NASDAQ: NFLX) is trading at over 13% pre-market today. Investors are responding to Netflix’s earnings report.
On Wednesday, Netflix said that it added 8.5 million new paid subscribers over the fourth quarter. Now the video streaming service has a total of over 200 million paid subscribers.
Netflix had reported revenue of $6.64 billion and earnings of $1.19 for the fourth quarter. The stronger-than-expected gains were largely driven by growth in Europe and Asia.
And Netflix also announced stronger operating margins of 14.4%. The company made a pledge to be cash flow positive by the end of the year.
Netflix is also planning to pay down more of its debt as well. Since 2011, Netflix raised $15 billion in debt and it currently has $8.2 billion of cash on hand.
Here is a video from Netflix about its earnings:
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.