Shares of streaming service Netflix soared 7.12% to $338.27 in the aftermarket. This is evidenced by trading data on NASDAQ.

Investors began to buy securities after the release of the report for the fourth quarter of 2022. According to its results, the number of paid subscribers to the platforms reached 230.75 million people, which is 7.66 million more than in the third quarter. This was significantly better than analysts’ forecasts, who expected the addition of 4.57 million new paid subscribers, CNBC noted, citing StreetAccount data.

The company’s revenue rose 1.9% from the level of the fourth quarter of 2021 and amounted to $7.85 billion. This is in line with the estimates of analysts surveyed by Refinitiv, writes RBC.

Net income due to losses on euro-denominated bonds fell 11 times year-on-year to $55 million. Earnings per share (EPS) totaled $0.12 versus $1.33 a year earlier. EPS, according to Refinitiv, was expected to be $0.45.

Operating income was $550 million versus $632 a year earlier. Operating margin was estimated at 7%, up from 8.2% in the fourth quarter of 2021. Operating margins are typically lower at the end of the year due to higher content costs.

In the first quarter of this year, Netflix expects to grow revenue by 3.9% to $8.17 billion and generate net income of $1.28 billion. Earnings per share, according to the company’s forecast, will be $2.82, operating margin – 19.9%. This quarter, the platform also intends to intensify its fight against the transfer of account passwords without payment.