Netflix shares soar as company reports surging revenue, tops 300 million subscribers

Shares of Netflix soared more than 10% after the company posted earnings that beat on the top and bottom line after the closing bell Tuesday.

Revenue in the fourth quarter jumped 16% year-over-year, reaching $10.25 billion, higher than the $10.11 billion Wall Street had predicted.

Additionally, the company surpassed 300 million paid memberships, a record addition of 19 million subscribers. The company said the growth was driven by its content slate, improved product and typical fourth-quarter seasonality.

Here are the numbers for the company’s most recent quarter: 

• Earnings per share: $4.27 vs. $4.20, according to LSEG
• Revenue: $10.25 billion vs. $10.11 billion, according to LSEG
• Paid memberships: 301.63 million vs. 290.9 million, according to StreetAccount

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