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HomeBusinessNetflix reaches 200 million subscribers- Sends Shares Soaring to A New High

Netflix reaches 200 million subscribers- Sends Shares Soaring to A New High

 

 

 

On Tuesday, after market close, Netflix reported on its earnings for quarter four, 2020. It said that it is “very close” to becoming cash flow positive and could consider stock buybacks. The stocks soared by 12% after the announcement.

 

The report findings and analysts’ predictions are different. As per Refinitiv survey of analysts the EPS was estimated to be $1.39 but Netflix reported $1.19 and the revenue was forecast as $6.626 billion but the company reported a higher revenue of $6.64 billion. Street Account had said that there could be 6.47 million global paid net subscriber additions and the company announced that it has added 8.5 million paid subscribers.

 

Some of the highlights of the reports and statements from company executives are as follows:

  • Paid subscribers crossed the 200 million mark in the last quarter of the year
  • It is expected to become a free cash flow positive company soon
  • It would no longer require external financing for day-to-day operations
  • It would check out the option of returning cash to shareholders
  • Buybacks will not mean that the company will stop bold investments
  • It will pay its $15 billion debt with $8.2 cash on hand
  • It will improve the platform to compete with rivals including Disney+, Apple TV, Discovery+ and others
  • The company’s The Queen’s Gambit was watched by 62-million-member households in the first four weeks
  • George Clooney directed The Midnight Sky was Netflix’s biggest original film and was watched by 72-million-member households in the first 28 days

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