WASHINGTON: Online entertainment conglomerate Netflix’s profit climbed in the fourth quarter, the company said on Tuesday, reported German news agency dpa.
The company’s bottom line came in at US$1.869 billion, or US$4.27 per share. This compares with US$938 million, or US$2.11 per share, in the previous year.
Analysts on average had expected the company to earn US$4.20 per share. Analysts’ estimates typically exclude special items.
The company’s revenue for the period rose 16.0 per cent to US$10.247 billion, up from US$8.833 billion.
Netflix ended 2024 with 302 million members.
The fourth quarter “outperformed even our high expectations,” the company said in a statement.
Viewers flocked to stream the second season of “Squid Game” and sporting events, including Mike Tyson and Jake Paul boxing match, and NFL games, Netflix said. – BERNAMA-dpa
