Netflix topped Wall Street estimates, releasing a robust earnings report that showed gains in profits and revenue.
Revenue at the company hit $1.17 billion for the three month period ending in December, while earnings hit 79 cents a share.
Netflix has been expected to report profits of 65 cents a share and $1.16 billion in sales, according to FactSet.
During the same period a year ago, Netflix earned 13 cents a share on $945 million in revenue.
The company has been making an aggressive push into original content in recent years, offering up critical hits such as the prison drama “Orange is the New Black”and the political thriller “House of Cards” and signing deals with the likes of Disney that give them exclusive rights to the company’s movies.
Analysts have cited the popularity of those programs with helping the company grow its subscriber base. Company forecasts projected hat it would end the fourth quarter with between 32.7 million and 33.5 million total U.S. subscribers,
The post Netflix Earnings Beat Wall Street Estimates, Stock Up appeared first on TheWrap.
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