Netflix closes 2020 with a significantly higher revenue of $ 6.6 billion, a growth of 21.5 percent compared to last year. The outlook for the first quarter is even better at $ 7.1 billion.
The net profit did decline, however. From 587 million a year ago to 542 million.
The number of paying subscribers has now passed 203 million. A year ago that was 167 million. The growth of 8.5 million subscribers worldwide was better than expected. In Europe, the number of subscribers increased to 62 million. Sales have exceeded $ 2 billion.
So Netflix has grown despite stiff competition from Disney, WarnerMedia and Discovery, which, according to the quarterly report, has been “expected for some time.” ViacomCBS relaunched on March 4 the video service CBS All Access as Paramount Plus. That is why they invested heavily in new originals, such as The Midnight Sky met George Clooney.
The Netflix share price just rose (after market) by 11 percent.
Netflix kicks off the earnings season as usual. In the coming weeks, all major internet companies will publish their annual figures.
Source: Nieuws – Emerce by www.emerce.nl.
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