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Netflix hits $100 billion market cap after beating Q4 expectations

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Netflix blew past investor expectations Monday, adding more subscribers and revenue than forecast and plans to spend more on content than ever before.

Why it matters: It's another reminder for Pay-TV providers and TV networks that the traditional cable bundle can't compete with the power of on-demand.

The numbers also show how much bigger Netflix's subscriber base continues to grow compared to Amazon and Hulu, it's biggest on-demand rivals.

By the numbers, per CNBC:

  • Revenue: $3.29 billion vs. $3.28 billion expected by Thomson Reuters
  • Earnings per share: 41 cents vs. 41 cents expected by Thomson Reuters
  • Total subscription additions: 8.33 million vs. 6.39 million expected by Netflix
  • Domestic subscriber additions: 1.98 million vs 1.29 million expected by StreetAccount
  • International subscriber additions: 6.36 million vs. 5.10 million estimated by StreetAccount

The company says it plans to spend up to $8 billion on content in 2018, up from roughly $7 billion in 2017.

In a twist, the company said it lost $39 million for content that was not released, which although not specified, could possibly be linked to shows and movies put on hold or cancelled due to sexual harassment scandals.

Haley Britzky 13 hours ago
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Zuckerberg happy to testify if it is "the right thing to do”

A portrait of Facebook founder Mark Zuckerberg
A portrait of Facebook founder Mark Zuckerberg. Photo: Jaap Arriens / NurPhoto via Getty Images

Facebook CEO Mark Zuckerberg said he would be "happy" to testify before Congress if it was "the right thing to do," in an interview with CNN's Laurie Segall.

Why it matters: Facebook has been under the microscope lately for what Zuckerberg called earlier today the "Cambridge Analytica situation." Zuckerberg said if he was the "person...who will have the most knowledge," then he'd be the one to testify in the face of Facebook's data-collection situation.

David McCabe 6 hours ago
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Fed-up Congress considers making it easier to sue Big Social

A GIF shows a gavel coming coming down on a website, computer and iPhone
Illustration: Rebecca Zisser/Axios

Anti-sex-trafficking legislation heading for President Trump's desk that makes it easier to sue platforms like Facebook and Google's YouTube could provide a template for a larger crackdown on malicious content.

Why it matters: After controversies over Russian election interference and data privacy, some in the industry seem to acknowledge that regulation may be coming. "I actually am not sure we shouldn't be regulated," Facebook CEO Mark Zuckerberg told CNN Wednesday night, answering questions about the Cambridge Analytica scandal.