(AOF) – Netflix lifted the veil last night on its results for the fourth quarter of 2021. And the least we can say is that the video streaming giant disappointed expectations. More than profits or revenues, it was the subscription figures that saddened investors: the company indeed gained 8.28 million subscribers over the period, while the market was expecting 8.5 million. Worse: for the first quarter of 2022, Netflix anticipates 2.5 million new subscribers, or about half of what Wall Street is hoping for (5.7 million).
In total, Netflix now has 221.84 million subscribers.
As for the actual results, the video platform recorded a net profit of 607 million euros, or $1.33 per share, while it was 542 million, or $1.19 per share. , a year earlier at the same time. A point that would satisfy investors since they expected a profit of 83 cents per share.
Revenues are in line with expectations and reached 7.71 billion dollars. Operating margin was 8.2%, down from 14.4% a year earlier, a decline the company attributes to heavy programming spending in the prior quarter.
Regarding its outlook, Netflix expects sales to reach $7.9 billion in the first quarter of 2022, driven in particular by the price increase in North America that came into effect last week. Earnings are expected to be $1.3 billion, or $2.86 per share. The consensus is for revenue of $8.2 million and earnings of $3.47 per share.
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