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8.5m people joined Netflix in the last quarter;

The stock jumps by 10%

Analysts forecast that the company will be joined by only 6.47 million people in the quarter, a figure that Netflix overtook by 2 million people. The stock jumps after trading by 10%

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• Netflix

Globes service

Tuesday, 19 January 2021, 23:08

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Reed Hastings, CEO of Netflix (Photo: GettyImages, Ernesto S. Ruscio / Getty Images / Netflix)

Netflix released its financial statements tonight, in which it reported actual revenue of $ 6.64 billion, compared to analysts' forecasts of revenue of $ 6.626 billion.

The company announced that its free cash flow was "close to being" positive and that it was considering buying back shares, a figure that bounced the value of the shares in the late trade to 10%.

8.5 million people joined the service in the last quarter of 2020, compared to estimates by analysts and the company itself in the previous quarter that only about 6 million people will be added to the service. In total, at the end of the quarter, Netflix had 203.66 million paying subscribers. This is compared to the end of the third quarter, when Netflix had 195.15 million paying subscribers.

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