Netflix Inc. (NFLX) shares plunged 20.22% in after-hours on Thursday, January 20, 2022, and closed the daily trading at $405.50. Even in the regular trading session of Thursday, NFLX’s stock lost 1.48%. NFLX shares have fallen 12.35% over the last 12 months, and they have moved down 5.39% in the past week. Over the past three months, the stock has lost 18.70%, while over the past six months, it has declined 0.69%. Further, the company has a current market of $222.35 billion and its outstanding shares stood at 442.78 million.
Let’s have a brief look at its recent news and developments.
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NFLX latest development
On January 20, 2022, Netflix, Inc. (NFLX) released its fourth-quarter 2021 financial results.
Q4 2021 financial highlights
- NFLX reported revenue of $7.7 billion for the fourth quarter of 2021 compared to $6.64 billion in the fourth quarter of 2020.
- The total cost of revenue was $5.3 billion in Q4 2021 compared to $4.16 billion in Q4 2020.
- It earned a net income of $607.5 million in Q4 2021 compared to $542 million in Q4 2020.
- Earnings per diluted share were $1.33 in Q4 2021 compared to $1.19 in Q4 2020.
FY 2021 financial highlights
- NFLX reported revenue of $29.7 billion for fiscal 2021 compared to $24.5 billion in the fiscal year of 2020.
- The total cost of revenue was $17.3 billion in FY 2021 compared to $15.3 billion in FY 2020.
- It earned a net income of $5.12 billion in FY 2021 compared to $2.76 billion in FY 2020.
- Earnings per diluted share were $11.24 in FY 2021 compared to $6.08 in FY 2020.
Q1 2022 financial outlook
The company is expecting paid net adds of $2.5 million compared to $4.0 million in the year-ago quarter.
Netflix stock price went down on Thursday after it announced its financial results and financial outlook for Q1 2022, which was not impressive. We can expect it to further decline on Friday as well.