SAN FRANCISCO (AP) — Netflix registered its third-consecutive quarter of accelerating subscriber growth in the final three months of 2023, closing out a comeback year that included a crackdown on viewers freeloading on the video-streaming service and a smattering of price hikes.
Political Cartoons View All 253 ImagesThe rising tide of customers left Netflix with more than 260 million global subscribers at the end of 2023 — an annual increase of nearly 30 million subscribers.
Last year’s performance was a stark contrast to 2022’s increase of 8.9 million subscribers — a lackluster showing that raised questions whether the video-streaming pioneer was losing steam amid stiffening competition for viewers.
The revenue exceeded analysts' forecasts, while earnings per share missed analyst targets, partly because of a $239 million charge tied to its foreign debt.
The company's shares rose nearly 7% in Tuesday's extended trading after its fourth-quarter numbers came out.
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