Netflix Shares Pop After Reporting Improved Earnings, Subscriber Growth

By Trey Williams Markets MarketWatch Pulse

Netflix Inc. shares were up more than 7% in after hours trade on Wednesday following the company's fourth-quarter earnings report. Netflix added 7.05 million subscribers in the quarter, much improved from the 3.57 million it added during the third quarter. Net income for the quarter was $66.7, million or 15 cents per share, compared with $43.2 million, or 10 cents per share, during the same quarter a year ago. FactSet's EPS consensus was 13 cents. Revenue for the quarter hit $2.48 billion, compared with $1.82 billion a year ago and just above FactSet's $2.47 billion revenue consensus. Shares of Netflix have gained 28% in the trailing 12-month period, outperforming the S&P 500 Index , which is up nearly 21% during the same time frame.

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