Netflix stock thud, which collapses by 20% in afterhours trading on Wall Street after the publication of the quarterly report for the fourth quarter of 2021.
The title pays for the market’s disappointment for the streaming giant’s estimates relating to the growth of new subscribers, decelerating compared to the numbers of the darkest period of the Covid pandemic.
In the fourth quarter of 2021, Netflix’s subscriber numbers grew on a net basis by 8.28 million units, better than analysts’ estimated 8.19 million growth. However, the number falls short of Netflix’s growth of 8.5 million subscribers in the fourth quarter of 2020.
In addition, for the first quarter of this year, the group expects subscriber growth, on a net basis, of 2.5 million, well below the 3.98 million new subscribers of the first quarter of 2021, and much more. below the 6.93 million expected by analysts, according to StreetAccount estimates. The analysts interviewed by FactSet had expected an even higher number, equal to +7.25 million subscribers.
Netflix’s earnings per share stood at $ 1.33, doing much better than the 82 cents per share expected by analysts surveyed by Refinitiv. Revenue stood at $ 7.71 billion, as predicted by the consensus.