On Wednesday, stocks increased following Netflix’s announcement that its fourth-quarter subscriber count had hit a new high.
Trading increased by 129 points, or 0.3%, on the Dow Jones Industrial Average. S&P 500 increased by 0.5%, while the Nasdaq Composite gained 0.8%.
A gain of over 11% was seen in Netflix shares. The broadcaster stated it added over 13 million new users in the fourth quarter, pushing its overall number of subscribers to an all-time high of 260.8 million. This news prompted the augmentation. Analysts’ expectations for revenue and earnings guidance for the current quarter were exceeded.
The massive tech company’s 2024 gains, which drove the S&P 500 to all-time highs and validated a fresh bull market, are being built upon by the streaming behemoth.
Aside from Netflix, AT&T also declined by about 2% due to lower-than-expected earnings. After presenting lacklustre fourth-quarter results and providing disappointing first-quarter forecasts, Dupont De Nemours saw an almost 12% decline.
Source (CNBC)
