ARTS / CULTURE & LEISURE By AFP Published: Jan 20, 2021 06:03 PM
Gal Gadot Photo: IC
Netflix on Tuesday topped subscriber growth expectations in the past quarter, keeping ahead of new streaming rivals competing for viewers stuck in their homes during the coronavirus pandemic.
The streaming television leader added some 8.5 million paid subscribers in the quarter to reach 203 million, topping 200 million despite recent price hikes, its quarterly earning update showed. COVID-19 has accelerated that big shift from linear to streaming entertainment, Netflix chief financial officer Spencer Neumann said on an earnings call. So, the underlying long-term looks good.
The company s cash flow was so strong that it will no longer borrow money to pay for operations, and is considering starting to buy back shares, according to a letter to investors.
Netflix continues to shine in the pandemic, hits 203 mn subscribers
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Last Updated: Jan 20, 2021, 10:20 AM IST
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The company s cash flow was so strong that it will no longer borrow money to pay for operations, and is considering starting to buy back shares.
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SAN FRANCISCO: Netflix on Tuesday topped subscriber growth expectations in the past quarter, keeping ahead of new streaming rivals competing for viewers stuck in their homes during the coronavirus pandemic.
The streaming television leader added some 8.5 million paid subscribers in the quarter to reach 203 million, topping 200 million despite recent price hikes, its quarterly earning update showed.
Netflix Tops 200 Million Subscribers as It Keeps Growing in Pandemic
Netflix said its cash flow was so strong that it will no longer borrow money to pay for operations and is considering starting to buy back shares. By Agence France-Presse | Updated: 20 January 2021 10:19 IST
For the full year, Netflix added a record 37 million paid memberships, according to the earnings report
Highlights
Netflix productions are back up and running in most regions
Netflix boasted having more than 500 titles in post-production
Netflix on Tuesday topped subscriber growth expectations in the past quarter, keeping ahead of new streaming rivals competing for viewers stuck in their homes during the coronavirus pandemic.
Netflix delivered stronger-than-expected subscriber growth in the past quarter
AFP
January 20, 2021
SAN FRANCISCO:
Netflix on Tuesday delivered stronger-than-expected subscriber growth in the past quarter, keeping ahead of new streaming rivals competing for viewers stuck in their homes during the coronavirus pandemic.
The streaming television leader added some 8.5 million paid subscribers in the quarter to reach 203 million, topping 200 million despite recent price hikes, its quarterly earning update showed.
Netflix shares jumped more than 12 per cent in after-market trades following the release.
Profits dipped to $542 million in the fourth quarter, compared with $587 million in the same period in 2019. But overall revenue in the quarter surged 21.5 per cent to $6.6 billion.
Galway firm Orreco has raised €3m in an investment round led by True Ventures, the first institutional investor in fitness company Fitbit. The Silicon Valley firm was also an early investor in at-home fitness company Peloton.