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Netflix shares surge following record holiday quarter Netflix shares skyrocketed in premarket trading on Wednesday after the firm reported a blockbuster holiday quarter as a vital content line-up, and its entry into live sports streaming got a record number of new customers. Netflix shares soared over 14% in premarket trading on Wednesday, climbing to $994.36 per share after the streaming giant reported a blockbuster holiday quarter. The company's stellar performance, driven by a robust content lineup and its foray into live sports streaming, added a record number of new subscribers and positioned Netflix for significant market growth. Key Highlights of Netflix's Performance: Subscriber Growth: Netflix added 18.9 million subscribers in Q4 2024, more than doubling Wall Street's estimate of 9.2 million. This marked a significant jump from the 13.1 million additions recorded in the same period last year. Live Sports Streaming: Netflix ventured into live sports, partnering with WWE, broadcasting two NFL games on Christmas Day, and securing U.S. rights for the 2027 and 2031 FIFA Women's World Cups. The move into live events is attracting tens of millions of viewers, boosting its competitive edge in the streaming market. Financial Impact: Netflix's market capitalization is expected to rise by $53 billion, reaching approximately $425 billion. Fourth-quarter revenue and profit exceeded analysts' expectations, reflecting the company's shift toward focusing on diversified performance metrics beyond subscription growth. Analyst Reactions: Evercore ISI praised Netflix's "excellent execution, stellar content slate, and scale advantages," noting its dominance in the streaming market. Morgan Stanley highlighted the company's unmatched scale, which allows Netflix to reinvest in its business and drive innovation. Stock Performance and Market Comparison: Netflix's 12-month forward price-to-earnings ratio stands at 35.43, significantly higher than Walt Disney's 19.19, underscoring investor confidence in its growth trajectory. At least nine analysts raised their price targets, with the median rising to $970 from $922.50, according to LSEG data. A Pivotal Year: 2024 was transformative for Netflix as it expanded its offerings beyond traditional streaming into live sports and diversified content. These moves, combined with its global reach and scale, have solidified its position as a dominant force in the entertainment industry. Outlook: Netflix's bold ventures and record-breaking subscriber growth demonstrate its ability to adapt and thrive in an increasingly competitive market. With its expanding portfolio, the company is poised for continued success in 2025 and beyond.

Tech

Netflix shares surge following record holiday quarter

January 22, 2025