Netflix — which was founded in 1997 as a rental company that sent you DVDs in the mail — crossed a major milestone on Tuesday, further solidifying itself as one of the most influential companies in Hollywood.
The streaming service said it now has more than 200 million subscribers globally after adding 8.5 million subscribers in the fourth quarter of 2020, beating its own expectations.
Netflix’s fourth quarter profit in 2020 was $542 million, down from $587 million in the year-earlier quarter. Its revenue jumped 21%, to $6.6 billion. The company’s stock jumped 8% in after-hours trading following the company’s earnings.
This is a developing story.
Netflix said it now has more than 200 million subscribers globally after adding 8.5 million subscribers in the fourth quarter of 2020, beating its own expectations.