Netflix Inc. signed up 13.1 million customers in the final three months of 2023, the streaming giant’s best quarter of growth since viewers were stuck at home in the early days of the pandemic.
The strong tally exceeded Wall Street’s estimate of 8.91 million and beat projections in every region of the world, with Netflix adding more than 5 million customers in Europe, the Middle East and Africa alone. Sales rose to $8.83 billion, the company said Tuesday, also topping forecasts.
Netflix rebounded from a rocky 2022 by posting one of its strongest years of customer growth ever, buoyed by a crackdown on password sharing, the introduction of a cheaper advertising-supported option and a strong slate of programs. Hit shows of the latest quarter included the post-apocalyptic thriller “Leave the World Behind” and a documentary about soccer great David Beckham.