By Harshita Mary Varghese
January 22, 2025 – 7:31 AM PST
Advertisement
(Reuters) – Shares of Netflix (NFLX.O) soared 13% to an all-time high on Wednesday after the streaming giant’s big bet on sports helped add a record 18.9 million subscribers in the holiday quarter, ballooning its already sizeable advantage over other players.
The company also unveiled price hikes on Tuesday in markets including the U.S., aiming to boost revenue just as it shifts focus from subscriber growth to other performance metrics such as sales.
“We thought it was a typo. Netflix defied the odds once again, delivering subscriber additions far beyond even the most unreasonable subscriber bogey,” Bernstein analyst Laurent Yoon said.
The company’s global subscriber base now exceeds 300 million, giving it a commanding lead…
