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Logo of streaming giant Netflix
Photo: PATRICK T. FALLON / AFP
The success of the documentary »Harry & Meghan« and the series »Wednesday« brought surprisingly strong customer growth to Netflix.
The number of users increased by 7.66 to 231 million in the fourth quarter, the streaming service said.
Analysts had expected only about half.
Netflix shares rose 7% in after-hours trading.
According to further information, sales increased by 1.9 percent to 7.85 billion dollars.
However, net profit fell from $607 to $55 million.
Nevertheless, the numbers overall exceeded market expectations.
"2022 was a difficult year with a bumpy start, but a brilliant finish," said the company in the annual report, looking at the weak first half of the year.
Hastings will continue to have influence
At the same time, Netflix co-founder Reed Hastings announced his resignation.
He is handing over the management of the company to his co-boss Ted Sarandos and to Greg Peters, who has been responsible for day-to-day business up to now.
He himself is moving to the top of the board of directors.
Hastings is likely to retain significant influence as executive chairman of the board of directors, which is superior to the executive board.
With consumers tightening their belts due to rising prices and a sluggish economy, Netflix struggled with customer dwindling for much of the past year.
For this reason and because of the stiff competition with rivals like Amazon Prime or Disney+, the company introduced a cheaper, ad-supported subscription, among other things.
czl/dpa/Reuters
