Netflix Closed the fourth quarter with earnings of $3.29 billion dollars

The company in a statement announced that it reached 8.33 million subscribers in only three months, beating a previous record of 7 million in this same period. It also closed the fourth quarter of 2017 with earnings of $ 3.29 billion and a profit of 41 cents per share.

Netflix’s financial results coincide with Wall Street estimates, which calculated a profit of $ 3.28 billion and a value of 41 cents per share. For the same period of 2016, the SVOD raised $ 2.48 billion dollars and 15 cents per share.

The increase in customers from September 30 to December 31, 2017 exceeds the estimate of 6.3 million new consumers. In this way, the company today has 117.6 million affiliates around the world, of which only 6 million do not reside in the United States.

“The entertainment market is vast and can support many successful services. In addition, content benefits are often complementary, given its unique content offerings. We believe that this is the great reason why both we and Hulu have been able to succeed and grow,” reports the communique.

The assets increased their quotation by 9%. This happened after Netflix released on January 22 that its shares would close at $ 227.58 each, before the information about its quarterly earnings.

They also report that they will raise their advertising to more than 50% during 2018, from $ 1.3 billion dollars to $ 2 billion dollars. “We want to have and produce high quality content and for this we need the necessary budget to take our partnerships to the next level.”

The statement also mentions that it will increase its debt from $ 3 billion to $ 4 billion by the end of 2018 with the objective of continuing to finance the production of original content, spending $ 8 billion over the course of this year.

In this same period, premiered the original film Bright, with a high budget and Will Smith’s performance. And announced the intention to make a sequel to this film for February 2018.

In its first month of transmission, “Bright” became one of the most viewed titles on the platform. Other 2017 Q4 releases include new seasons of Stranger Things, The Crown and Black Mirror, and the new productions Godless, Marvel’s The Punisher and Mindhunter, by David Fincher.

 

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