Netflix's subscriber numbers exceeded expectations in the final quarter of last year

Global internet television network Netflix's subscriber base increased by 7.7 million in the last quarter of last year, exceeding market expectations. Netflix announced its balance sheet for the fourth quarter of 2022. Accordingly, the company's revenue in the last quarter of last year increased by 1.9 percent compared to the same period of the previous year, reaching $7.9 billion. The company's revenue was recorded as $7.7 billion in the same period of 2021. The company's net profit, on the other hand, decreased by approximately 91 percent compared to the same period of the previous year, falling to $55 million in the fourth quarter of last year. Netflix's net profit in the last quarter of 2021 was $607 million. The company's earnings per share also decreased from $1.33 to $0.12 in the same period. The number of subscribers exceeded 230 million worldwide Netflix's subscriber base increased by 7.7 million in the last quarter of last year. Netflix, which exceeded expectations, was expected to increase its subscriber count by 4.5 million during this period. Netflix’s worldwide subscriber count reached 230.8 million as of the end of last year. The company’s subscriber count decreased by 200,000 in the first quarter of 2022 and by 970,000 in the second quarter. This was the first time Netflix had lost subscribers in two consecutive quarters. After the losses in the first half of last year, Netflix’s subscriber count had started to recover in the second half. Netflix co-founder Hastings resigns as CEO In addition, it was announced that Netflix co-founder Reed Hastings has resigned from his position as CEO and will continue his role at the company as chairman of the board of directors. It was reported that Hastings will be replaced by the company’s Chief Operating Officer Greg Peters, and Ted Sarandos will continue his role as Co-CEO.