Netflix reported a significant increase in subscribers in its latest quarterly earnings. Cheddar News breaks down the numbers.

Netflix Jumps On Q4 Earnings Beat, Topping Subscriber Estimates

time for an earnings alert. Netflix results in and I want to bring in cheddar news, senior reporter Michele Castelli, Oh Michelle the stock popping in the after hours break down what we know. So yes, let's start with the top and bottom line $7.85 billion in revenue this quarter. That is in line with what the street was expecting. You have earnings per share of about 12 cents a little bit lower than what the street was expecting. They were actually expecting about 45 cents for the reason why we're seeing netflix pop in after hours trading. It's really on that huge subscribe we're beat. So netflix added a significant amount of subscribers this quarter. They added 7.66 million subscribers. The street was only expecting 4.57 million. Now going forward, you have to also remember that netflix will not be providing subscriber edition projections. They're saying they're gonna focus on revenue so we don't have a look at what they're expecting next quarter. However they do think that revenue is going to grow 4% on a quarter by quarter basis. The other thing that's interesting is that adding two new CO Ceo Ted Sarandos who's already acting as CO Ceo known for his foray into original programming as well as Greg Peters who is currently C. E. O of the company he will be coming on as Co Ceo. Um Greg Peters really led partnerships as well as advertising. He started out in Japan and really in that asia region. He's also leading the gaming initiatives for Netflix. So kind of gives us a sense of where the company is looking for as they go forward. Um we know that current Ceo ray Hastings is stepping down to be an executive chairman. He said in a blog that he's going to focus more on philanthropic efforts, kind of referencing Jeff Bezos and where he's going at this time. Another interesting note for promotion is Bella probably pronouncing last name wrong bahariya, she is the current global head of television for netflix. She's going to be the head of the new chief content officer for the company. What's really interesting about Bella is she was the person who really led netflix's foray into international programming. She was the first person who really looked into reality tv. So we can see where netflix is going, especially with Peters and um and his experience in the Asia region, but the area in her experience in the latin american region, it really looks like they're looking towards an international expansion when it comes to content. So you know, it's a lot of interesting things now are the show's gonna be a hit with consumers. Netflix is really trying to stand out in the streaming space but it is getting pretty crowded Michelle Castelluccio, our senior reporter because even while fighting off a cold, you still such good insight. So I think we want to hit on one more question here, if I'm following this correctly, of course the ad supported tier, still kind of struggling, I think to gain some momentum, a lot of people kind of already grandfather or on a family plan, what do we expect from this going forward? You know, this is a really interesting move for the company and pure analytics gave me some data earlier and they said about 8% of subscribers for netflix are on that ad supported tier and the majority of those people are new subscribers but they're re subscribers. They're not new people who weren't on netflix before. Now, netflix says they're pretty pleased with the growth. Of course they're gonna say that they did say though it's gonna be moderate growth through 2023 as they work through a lot of kinks in the ad supported plan and kind of work out the offerings. The one thing that they will be adding though is what they're calling. Um interestingly enough paid sharing, which means that there's gonna be no more freeloaders on netflix. So starting later in Q one, if you are sharing that password with other people, Netflix says that's about 100 million plus people accounts, you will start to have to pay additional, they're gonna give you some additional options so you can get people outside your household to pay extra but you know no one's gonna be able to share those passwords as easily because netflix says they need that money if they want the service to be as good as it is. Okay because this is a money show, right? People better start budgeting at a line item for that netflix subscription, right. Whether it's ad supported or regular, if you're gonna be kicked out of that family plan coming up in a few months, the news is a senior reporter, Michelle. Castilian Michelle, Thank you.