Netflix NFLX jumps over 11% after hours after the company reported 4Q results and announced that is close to being free cash flow positive and might return cash to shareholders. That is the third consecutive quarter free cash flow positive mostly because of the cancellation production amid the pandemic.
Netflix reported quarterly earnings of $1.19 per share, below the expectations of $1.39. The figure is 8.46% lower from earnings of $1.30 per share from the same period last year.
NFLX reported fourth quarter sales of $6.64 billion, which beat the Wall Street consensus estimate of $6.63 billion by 0.21%. This is a 21.53% increase over sales of $5.47 billion in the same period the previous year.
The content platform reported 8.5 million global paid net subscriber additions beating the estimates for the 6.47 million analysts expected. The company has now $8.2 billion in cash and intends to pay down its depth. The company has $15 billion in debt.
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