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Illustration: Rebecca Zisser/Axios

Netflix said that it added another 8.5 million global subscribers last quarter, bringing its total number of paid subscribers globally to more than 200 million.

The big picture: Positive fourth-quarter results show Netflix's resiliency, despite increased competition and pandemic-related production headwinds.

  • The company experienced explosive growth during the first half of last year, but growth began to slow toward the second half of the year, after pandemic-related lockdowns lifted in the third quarter.
  • Netflix beat expectations on earnings and revenue, in addition to global subscriber additions, for the fourth quarter.
  • Stock was up nearly 6% in after-hours trading Tuesday after the tech giant reported its earnings.

Details: The company says it believes it's "very close to being sustainably" free cash flow positive and anticipates free cash flow will break even for the full year in 2021. This means it will likely no longer need to raise external financing for its day-to-day operations.

  • Netflix has been cash-flow positive for the last three quarters. This is mostly because the pandemic lightened some of the streamer's production and marketing expenses, but it's an important milestone for the company nonetheless.

By the numbers, per CNBC:

  • Earnings per share: $1.19 vs. $1.39 expected, according to Refinitiv survey of analysts.
  • Revenue: $6.64 billion vs. $6.626 billion expected, according to Refinitiv.
  • Global paid net subscriber additions: 8.5 million vs. 6.47 million expected, according to StreetAccount.

What's next: While the pandemic has stalled most of Hollywood's production schedule, Netflix seems on track to be able to deliver its programming slate in full.

  • The company released a teaser of its 2021 film slate last week, promising a new film debut every week.

Go deeper ... Netflix's earnings over the past year:

Go deeper

Apple raked in $111 billion in revenue in a single quarter

Expand chart
Data: FactSet; Chart: Axios Visuals

Big Tech had a strong start to earnings season, as the S&P 500's heavy hitters reported Wednesday after market close.

What happened: Spurred by strong sales of the latest iPhones, Apple had its strongest quarter ever, raking in $111.4 billion in revenue for the three months ended Dec. 31, far outpacing expectations.

Ina Fried, author of Login
Updated Jan 27, 2021 - Technology

Apple's quarterly sales top $100 billion for first time

Credit: Apple

Spurred by strong sales of the latest iPhones, Apple reported it took in a record $111 billion in revenue for the three months ended Dec. 31, as the company crushed expectations.

Why it matters: The move showed even a pandemic didn't dull demand for Apple's latest smartphones.

Ina Fried, author of Login
9 mins ago - Technology
Column / Signal Boost

Exclusive: Meta's civil rights chief aims to "turn the knob" for good

Photo Illustration: Shoshana Gordon/Axios. Photo: Meta

A year ago, Facebook brought in Roy Austin, Jr. to lead a new team focused on civil rights. Since then, he has assembled a squad of experts advising parent company Meta on everything from voting rights to hate speech to ensuring new products don't have discriminatory impact.

The big picture: Austin's team of nine must tackle those tough issues inside a company of nearly 70,000 employees serving more than 3 billion users around the world.

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