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Why Netflix Stock Jumped a Lucky 7% on Friday

TheMotleyFool

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The results are in and Netflix (NASDAQ: NFLX) is a winner.

Shares of the original streaming stock tacked on 6.9% through 11:20 a.m. ET after the company missed analyst predictions for earnings last night, but met revenue expectations and delivered more subscribers than expected -- 231 million as of the end of the year. For the fourth quarter of 2022, Netflix earned only $0.12 per share instead of the expected $0.45, while revenue was $7.85 billion.

Also, Reed Hastings is retiring from his job as CEO to become simply executive chairman. (Ted Sarandos and Greg Peters will be co-CEOs from here on out.)

Source Fool.com

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