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1/20, 10:02 PM (Source: TeleTrader)
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Netflix's Q4 revenue rises by 16% to $7.71 billion

Netflix Inc. announced on Thursday its revenue in the fourth quarter of the fiscal year 2021 observed an annual rise of 16.0% to reach $7.71 billion, in line with market expectations. The company's net income went up by 11.99% in the same period to $607 million. Meanwhile, its diluted earnings per share (EPS) gained 11.76% year-on-year to $1.33 per share.

"Even in a world of uncertainty and increasing competition, we're optimistic about our long-term growth prospects as streaming supplants linear entertainment around the world. We're continually improving Netflix so that we can please our members, grow our share of leisure time and lead in this transition," the platform noted in the letter to its shareholders.

Netflix projected its revenue in the first quarter of the fiscal year 2022 will grow by 10.3% in comparison to the same period in 2021 to $7.90 billion. Following the release of the report, the company's shares sank by 13.42% in the after-hours trading.

Baha Breaking News (BBN) / JR