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Photo = Yonhap news |
[Alpha Biz= Paul Lee] Netflix, the largest streaming platform in the U.S., saw its shares jump over 5% in after-hours trading on Thursday (local time) after reporting earnings that exceeded market expectations.
In after-hours trading on the New York Stock Exchange, Netflix shares surged 5.21% to $1,023.76. Earlier during the regular session, shares had already risen 1.19% in anticipation of strong earnings.
Following the market close, Netflix announced its quarterly revenue reached $10.54 billion, a 13% increase year-over-year and higher than analysts’ expectations of $10.51 billion.
Earnings per share (EPS) came in at $6.61, also surpassing market forecasts of $5.71.
The company attributed the revenue growth to higher-than-expected subscription and advertising income.
Netflix's earnings mark the first major report of the U.S. earnings season — and it’s off to a strong start.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
