Netflix reported a 20.3 % increase in revenue in 2023, reaching $5,407.9 million, and projected revenue growth of more than 10 % by 2024.

The streaming company grossed $33,723.3 million last year, 6.6 % more than in 2022, and added 260.2 million subscribers at the end of the last quarter, 12.8 % more than the previous year.

Netflix expects to earn 9.24 billion dollars in the first quarter of 2024, 13.2 % more than in the same period of 2023, and achieve a net profit of 1.976 billion dollars.

In a letter to its shareholders, Netflix stated that it has “enough room to grow as streaming expands” and that if it can “improve Netflix faster than the competition, we will have a more valuable company for consumers, creators and shareholders.”

Netflix closed the fourth quarter of 2023 with net profits of $938 million, up 1.605 % from the same quarter of 2022, and revenues of $8.833 million, up 12.5 %.

Netflix started 2024 with a “good pace” and expects its revenues to grow to double digits during the year, thanks to subscribers increase and an adjustment in the price of the service.

K. Tovar

Source: Eleconomista

(Reference image source: Ventil Views, Unsplash)

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