Netflix, Inc. (NASDAQ: NFLX) has released its fourth-quarter 2016, surpassing expectation. The stock surged 8% Wednesday after market, reaching new all time highs.
The popular streaming copmany announced, “$8.3 billion in global streaming revenue (35% y/y growth) and finished the year with 93.8 million members on 19.0 million net additions vs. 17.4 million in 2015. This quarter marks
the 10-year anniversary of our launch of streaming. The next decade will be even more amazing and tumultuous as internet TV supplants linear TV, and as we strive to remain a leader.”
In the fourth quarter Netflix global streaming revenue jumped 41% year over year, reaching $2.4 billion. Contribution profit increased 74% year over year to $470 million. Operating profit stands at $154 million comparing to guidance of $125 million, while net income recorded at $67 million, way above the company’s own forecast of $56 million.
“Since our global expansion is proceeding well, we intend to grow our global operating margin for many years ahead. We’ve been around a 4% annual operating margin for the past two years, and we are targeting about 7% for the full year 2017 based on current F/X rates.” The copmany explained.