Netflix stock prices soared: investors reacted to the growth of the subscriber base.
Netflix shares rose in early trading following a successful quarter. Many new subscribers purchased their services, which was the reason for the increase.
According to Reuters, Netflix shares climbed 14%, which could lead to an increase in their market capitalization. It currently stands at $425 billion. This success will allow the company to continue to grow and attract new investors.
Breakthrough Year
The year 2024 has been pivotal for Netflix as they began live sports broadcasts. This decision brought them significant success. They aired two NFL games on Christmas, formed a partnership with WWE, and secured rights to broadcast the Women's World Cup in 2027 and 2031 in the USA.
According to LSEG, Netflix gained 18.9 million new subscribers in the holiday quarter. This surpassed Wall Street's estimates of 9.2 million subscribers for the quarter and 13.1 million subscribers from a year ago.
In the fourth quarter, the company also reported high revenue and profit, exceeding expectations. This indicates Netflix's successful efforts to attract investor interest and ensure stable growth for the company.
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