Netflix (NFLX) Stock Went Crazy After The Company Reported This

Shares of Netflix soared roughly 9% in after market trading on Wednesday after the company released Q4 earnings.

The streaming service giant reported fourth-quarter earnings per share of 15 cents on revenue of $2.48 billion.

This came in at about a 35 percent year-over-year increase in sales and was well beyond what analysts expected at earnings of 13 cents a share on $2.47 billion in revenue, according to Thomson Reuters consensus estimates.

What really impressed traders was that the company added 7.05 million subscribers during the fiscal fourth quarter. This was the biggest Netflix ever saw for quarterly subscriber growth in its history.. Expectations had called for 5.2 million.

For the first quarter of 2017 Netflix expects to add 5.2 million subscribers in the current quarter — 1.5 million domestically and 3.7 million overseas.

Analysts had been expecting subscriber numbers at about 1.44 million in the U.S. and 3.73 million internationally, according to StreetAccount consensus estimates.

Disclaimer: We have no position in Netflix Inc. (NASDAQ: NFLX) and have not been compensated for this article.

Sofia Vida

Sofia has been writing for major news outlets for over 15 years. In her spare time she enjoys hiking, walking her dogs, and going to concerts.

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