By Kendra Barnett

Strong fourth quarter results saw Netflix’s stock price spike more than 7% Tuesday afternoon.

Netflix filed its fourth quarter financial results Tuesday afternoon, reporting better-than-expected revenues and subscriber growth.

The streaming titan generated $8.83bn in revenue during the quarter, beating an $8.72bn projection from the London Stock Exchange Group (LSEG). The figure represents a 12.5% year-over-year revenue increase.

Net income came in under Wall Street projections, reaching $938m, or $2.11 per share. LSEG expected $2.22 per share.

The company has in recent months endeavored to diversify its revenue streams in an ever-more saturated market (where, in the US, 85% of Read full story ›

Source: The Drum