Netflix stock falls despite subscriber growth and "Bird Box" blowout

By Irina Ivanova

/ CBS/AP

Impact of Netflix price increases minimal

Netflix stock dropped in after-hours trading after the video streaming service reported lower-than-expected revenue, despite blowout subscriber numbers.

The internet video service posted $4.19 billion in revenue for the fourth quarter, undershooting the $4.21 billion analysts had expected.

Netflix added 8.8 million subscribers in the last three months of 2018, a record number that beat the company's own prediction for 7.6 million new customers. Netflix now has 139 million paying subscribers globally, the service said. More than half of them—80 million—watched the hit film "Bird Box" in the first four weeks it was available, Netflix said.

For the current quarter ending in April, Netflix said it expects revenue in the range of $4.49 billion. Analysts surveyed by Zacks had expected revenue of $4.59 billion.

Netflix shares have climbed 32 percent since the beginning of the year, compared with an almost 5 percent rise for the Standard & Poor's 500 index. Shares surged on Tuesday after the company announced a price hike of 13 to 18 percent, but the stock fell nearly 5 percent after the close of trading on Thursday, when it issued its most recent financial results.

First published on January 17, 2019

© 2019 CBS Interactive Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.

Netflix beats expectations for subscribers, undershoots revenue

The streaming service, which added 8.8 million new users in the last quarter, recently hiked its monthly fees

updated 17M ago

Trump revealed secret Pelosi destinations in letter

President Trump announced that he was postponing Pelosi's trip to Brussels, Egypt and Afghanistan. It's unusual for this detail to be revealed before departure, for security reasons

updated 21M ago

NBA legend Tim Duncan spotted handing out food in San Antonio

"No press crew, just a legend in cargo shorts and a fishing cap," a fan who tweeted a photo of Duncan said

updated 48M ago

Hilton dishwasher awarded $21.5 million for having to work Sundays

The dishwasher, a devout Christian, sued after the hotel assigned shifts on Sundays and eventually fired her

updated 51M ago

Companies offer food, loans to cash-strapped federal workers

Some businesses offer free meal, while others solicit volunteers to look after understaffed national parks

updated 58M ago

Trump revealed secret Pelosi destinations in letter

President Trump announced that he was postponing Pelosi's trip to Brussels, Egypt and Afghanistan. It's unusual for this detail to be revealed before departure, for security reasons

updated 21M ago

Puerto Rico's leaders slam Trump administration for opposing food assistance funding

The Nutrition Assistance for Puerto Rico (NAP) program serves hundreds of thousands of people in Puerto Rico

updated 29M ago

These states' immigration courts are most impacted by the government shutdown

The immigration court backlog could grow to more than one million cases if the government shutdown drags into February and March

1H ago

Trump takes swipe at Pelosi, postpones her trip abroad

Mr. Trump said Pelosi could still use commercial transportation for the trip to Brussels, Egypt and Afghanistan

updated 8M ago

Model who claimed to have dirt on oligarch gets deported

Anastasia Vashukevich claimed that she had evidence of Russian involvement in helping elect Trump

3H ago

Anti-vax movement among top 10 global health threats for 2019

Climate change also makes the World Health Organization's list of biggest health concerns

updated 1M ago

Prince Philip involved in car accident, Buckingham Palace says

The 97-year-old was not injured, according to Buckingham Palace

3H ago

Model who claimed to have dirt on oligarch gets deported

Anastasia Vashukevich claimed that she had evidence of Russian involvement in helping elect Trump

3H ago

Thousands more migrant children may have been separated

Watchdog report "reaffirms that the government never had a clear picture of how many children it ripped from their parents," ACLU says

2H ago

El Chapo trial shows why a wall won’t stop drugs at border

With witness accounts of violence, corruption, and entrepreneurial innovation, the trial is a telenovela-style explainer on why a wall is unlikely to stop​ the lucrative U.S.-Mexico drug trade

5H ago

How to watch "Star Trek: Discovery" season 2

New season of "Star Trek: Discovery" premieres Thursday on CBS All Access

2H ago

"Star Trek: Discovery": Sonequa Martin-Green on her "complicated" Spock reunion

"Star Trek: Discovery" Season 2 premieres Thursday night on CBS All Access

4H ago

Gladys Knight to sing anthem at Super Bowl

"I am proud to use my voice to unite and represent our country in my hometown of Atlanta," Knight said

4H ago

"Hamilton" star uses rap to call out "lady filming in the 4th row"

"Lady filming in the 4th row, please stop it," the star ad-libbed during the show

4H ago

Betty White turns 97: Here's how she stays hip

Betty White celebrated her birthday on Thursday, and after seven decades in show business, she's still making us laugh

3H ago

Tens of thousands of embryos are stuck in limbo in fertility clinics

Some are outright abandoned by people who quit paying storage fees while some couples are struggling with tough decisions

4H ago

Unpaid NASA workers protect missions during shutdown

NASA managers and engineers continue to oversee critical missions amid shutdown chaos

4H ago

Facebook shuts hundreds of pages linked to Russia's Sputnik

Facebook said it discovered two large disinformation operations as part of its fight against fake news

8H ago

"Super blood wolf moon" will light up the sky Sunday

An unusual lunar eclipse will unfold Sunday night — and it will be hard to miss if you stay up

11H ago

PG&E bankruptcy shows we don't know how to pay for climate change

As weather gets more extreme, corporations, citizens and politicians fight over who should pay for the damages

Jan 16

Anti-vax movement among top 10 global health threats for 2019

Climate change also makes the World Health Organization's list of biggest health concerns

updated 1M ago

The world needs a diet overhaul, expert panel says

New report concludes we need a major diet change to do what's best for our health and the planet

1H ago

Are intermittent fasting diets a good way to lose weight?

Fasting diets are growing in popularity, but Dr. David Agus says science doesn't back the trend

updated 46M ago

Tens of thousands of embryos are stuck in limbo in fertility clinics

Some are outright abandoned by people who quit paying storage fees while some couples are struggling with tough decisions

4H ago

Recalls of hazardous meat and poultry up 83 percent, report finds

"Something is rotten in our slaughterhouses and our fields"

6H ago

Netflix beats expectations for subscribers, undershoots revenue

The streaming service, which added 8.8 million new users in the last quarter, recently hiked its monthly fees

updated 17M ago

Hilton dishwasher awarded $21.5 million for having to work Sundays

The dishwasher, a devout Christian, sued after the hotel assigned shifts on Sundays and eventually fired her

updated 51M ago

Companies offer food, loans to cash-strapped federal workers

Some businesses offer free meal, while others solicit volunteers to look after understaffed national parks

updated 58M ago

Eddie Lampert wins auction for what's left of Sears

Bankrupt retailer's chairman prevails in bid to keep flailing department store chain from closing its doors forever

5H ago

Early Facebook backer Roger McNamee wants to break it up

McNamee, once a mentor to Mark Zuckerberg, now says the tech CEO's success has blinded him to Facebook's problems

6H ago

Wisconsin girl's accused kidnapper applied for job on day she escaped

Jake Patterson, charged with abducting Jayme Closs after killing her parents, described himself as "an honest and hardworking guy"

7H ago

Officer shoots, kills boy, 14, who had airsoft gun, not real one

Tempe, Arizona police say officer caught teen burglarizing car, teen got gun from car, officer chased teen, felt threatened, shot him

2H ago

Teacher who fled with student sentenced to 20 years in prison

At Wednesday's sentencing, a statement from the victim called the 52-year-old "disgusting" and effects of his actions "devastating and permanent"

2H ago

TV host Chris Hansen arrested over bad checks, police say

Chris Hansen confronted alleged child predators during sting operations on NBC's "To Catch a Predator"

22H ago

"Innocent black man" who died behind bars exonerated by governor

Grover Thompson, who died in 1996, was convicted for a stabbing that a serial killer later confessed to committing

Jan 16

LEAVE A REPLY

Please enter your comment!
Please enter your name here