Did You Miss This Valuable Info in Netflix's Latest Earnings Report?
Netflix (NASDAQ: NFLX) stock was one of the winners during a pandemic that destroyed many businesses, and the streaming platform's success continued into the fourth quarter. Earnings results released this week show revenue increased 22% over Q4 2019 figures, and enrollment sailed past 200 million as the company added 8.5 million subscriptions and beat company expectations of 6 million additions.
Income came in below estimates at $542 million, an 8% decrease over 2019, but most notably, the streaming giant's management said the company would no longer need to raise external financing for daily operations. Netflix has had a cash flow issue for years, as it has had to invest in content without the money to cover it, so this is a big milestone.
Aside from those exciting announcements, there was another important number tucked into the earnings release. That number points to Netflix's strong efforts to address its increasing competition.
Source Fool.com
