Netflix, Inc. (NASDAQ:NFLX) shares were skyrocketing as the company reported on its latest quarter Monday.
The company’s market cap surpassed the $100 billion mark on Monday as it added 8.33 million subscribers during its fourth quarter of fiscal 2017, while earnings came in at 41 cents per share on an adjusted basis. Analysts polled by Thomson Reuters expected adjusted earnings of 41 cents per share.
Revenue was also a strong point for Netflix at $3.29 billion, ahead of the $3.28 billion that Wall Street projected, according to Thomson Reuters. Domestically, the company added 1.98 million users, topping the 1.29 million users that StreetAccount expected.
Globally, Netflix added 8.33 million users, better than the 6.39 million expected. A year ago, the company earned 15 cents per share on an adjusted basis. The company plans on spending $7.5 billion to $8 billion on content in 2018.
For its first quarter of fiscal 2018, the streaming service provider predicts adjusted earnings of 63 cents per share, a bullish outlook compared to the 56 cents per share that the Wall Street consensus estimate calls for, per Thomson Reuters.
Netflix sees its revenue for the period as being $3.69 billion, ahead of the $3.49 billion that Thomson Reuters expects. It also projects to add 1.45 million users in the U.S and 4.9 million globally, compared to the analysts’ forecast of 1.27 million and 3.74 million respectively, according to data compiled by StreetAccount.
NFLX stock gained around 9.4% after the bell.
