Netflix stock price soared 7.12% to $338.27 on the post-market. The trading data on NASDAQ evidence this.

Investors began buying the securities after the release of the report for the fourth quarter of 2022. According to its results, the number of paid subscribers to the platforms reached 230.75 million people, which is 7.66 million more than in the third quarter. That was significantly better than analysts’ forecasts, which had expected to add 4.57 million new paid subscribers, CNBC said, citing data from streetaccount.

Netflix stock chart

The company’s revenues rose 1.9% from the fourth quarter 2021 level to $7.85 billion, which is in line with the estimates of analysts surveyed by Refinitiv.

Net income due to losses on euro-denominated bonds decreased 11 times compared to the same period of the previous year to $55 million. Earnings per share (EPS) were $0.12 compared to $1.33 a year earlier. EPS, according to Refinitiv, was expected to be $0.45.

Operating profit was $550 million compared to $632 million a year earlier. Operating margin was estimated at 7%, while in the fourth quarter of 2021 it was 8.2%. At the end of the year, operating margins are typically lower due to higher content costs.

In the first quarter of this year, Netflix expects to grow revenue by 3.9% to $8.17 billion and generate net income of $1.28 billion. Earnings per share are projected to be $2.82 and operating margin of 19.9%, according to the company. The platform also intends to step up its fight against account password transfers without payment this quarter.

Earlier, we reported that JPMorgan’s Q4 net income rose 6% and revenue rose 18%.