Netflix (NFLX) stock hits all-time high in after-hours trading

by

For its Q4 2024 financial report, Netflix announced impressive earnings. As analysts work out the details and calculate growth, Netflix’s shares reached a record high. After the close of trading on Tuesday, Netflix’s stock peaked at an unprecedented price of $968.98 per share during after-hours trade.

One of the platforms showing the chart for Netflix’s stock is Yahoo! Finance. The surge in the stock price can be attributed to the Q4 2024 earnings report from Netflix, as well as their letter to shareholders. In this report, Netflix reported a 16% increase in revenue compared to the previous year and is projecting even more growth for 2025.

According to the projected exchange rates as of January 1, 2025, our new estimate for 2025 revenue lies between $43.5 billion and $44.5 billion, which is half a billion dollars more than our previous forecast range. This revised projection takes into account stronger business performance in Q4’24, as well as the anticipated positive effects from this stronger-than-expected performance, offset by negative impacts due to the recent strengthening of the US dollar over the past few months. Since our earlier forecast, published with our Q3’24 results, the increase in the value of the US dollar against most currencies has reduced our 2025 revenue projection by approximately $1 billion, after accounting for hedging. This foreign exchange impact is factored into our updated guidance.

Before reaching its highest point, Netflix concluded its trading for Tuesday, January 21 at $869.68 per share. We’ll keep an eye on any updates following the release of Netflix’s Q4 2024 financial results. Stay tuned to Shacknews.

Read More

2025-01-22 00:57