17:11 - 24.01.2024

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January 24, Fineko/abc.az. Netflix Inc., the world's largest subscription video streaming service, increased its net profit 17-fold in the 4th quarter of 2023, and the number of its paid subscribers by 13 million.

ABC.AZ reports that net profit in October-December amounted to $937.8 million versus $55.3 million in the same period of the previous year, when the result included large one-time write-offs. Earnings per share increased to $2.11 from $0.12 a year earlier.

Netflix's quarterly revenue grew by 12.5% up to $8.83 billion from $7.85 billion.

The number of paid Netflix subscribers jumped by 13.12 million, which is a record increase for Q4, reaching 260.28 million.