Wall Street Cheers NFLX Q4 2023 performance

1. NFLX reported strong Q3 2023 earnings, beating expectations.
2. The company reported earnings of $3.73 per share, topping analyst estimates of $3.49 per share. R
3. Revenue came in at $8.54 billion, in line with forecasts.1Netflix added 8.76 million new global paid subscribers in Q3, well above the 5.49 million expected.
4. This represents a 4.5% year-over-year increase in paid memberships The company’s ad-supported tier saw a 70% increase in memberships from the prior quarter.
5. Netflix is also taking steps to address password sharing, which has been a focus area.
6. For Q4 2023, Netflix forecasts revenue of $8.69 billion, representing 10.7% year-over-year growth. It expects earnings of $2.15 per share. The company also raised its full-year 2023 operating margin guidance to around 20%.
7. Ahead of the earnings report, Netflix’s stock price has risen about 30% year-to-date, reflecting investor optimism. In after-hours trading on the day of the earnings release, Netflix’s stock price edged higher.
8. Overall, Netflix’s Q3 results and Q4 guidance were well-received by the market, as the company demonstrated strong subscriber growth and profitability.