racked up 8.76 million global paid subscribers last quarter — hitting 167.1 million — beating expectations overall but still soft on U.S. additions. Earnings in the fourth quarter popped and revenue came in a hair higher than anticipated, the company said Tuesday.
Fourth-quarter revenue came in at $5.47 billion, versus $4.2 last year. Earnings per share of $1.30 topped 30 cents the year earlier and Wall Street estimates of 53 cents.
The latest financial and subscriber numbers were hotly anticipated as testament to the streamer’s ability to withstand growing competition. Disney+
and Apple TV+ launched last fall. Two more heavyweight rivals, HBO Max
and Peacock, will land this spring. Netflix had seen subdued growth in domestic subscribers versus international even before the glut of new entrants.
To compete, it’s been ramping up spending on content and beachheads around the world from London to Paris to Mumbai, outlays of billions that has had some investors fretting.