Netflix might want to go back in time a few months and choose a different adventure.
Shares of the company fell in after-hours trading this afternoon after it posted its financial results for the fourth quarter of 2018. While Netflix added a record 8.8 million subscribers during the period (1.5 million in the United States and 7.3 million internationally), revenue was slightly below consensus estimates.
Here are the key numbers:
- Domestic subscribers: 1.5 million
- International subscribers: 7.3 million
- Earnings Per Share: 30 cents
- Revenue: $4.2 billion
The report comes at a dicey time for the company, which just raised its prices on some subscription plans, a move that will likely be the tipping point for many users. At the same time, the company is spending hand over fist to keep its library flush with new content.
That said, the market tends to overreact a bit to Netflix earnings reports—positive or negative—so it’s possible that the stock will rebound after the earnings call with CEO Reed Hastings later today. Stay tuned!