Netflix adds 13.1M subscribers in 4th quarter

Netflix added a record 13.1 million subscribers in the fourth quarter of last year, according to its financial results released late Tuesday.

The online streaming platform saw its paid subscribers reaching to 260.8 million as of end-2023.

Its per-share earnings came in at $2.11 during the three months through December 2023, below market estimates due to currency exchange rates led noncash loss.

Net income hit $937.8 million in October-December 2023, surging from $55.3 million in the same period in 2022.

The company's fourth quarter revenue rose 12.5% year-on-year to $8.83 billion, from $7.85 billion.

Netflix revised its 2024 full-year operating margin forecast upwards to 24%, from a range of 22% to 23%.