Netflix Hikes Prices, Stock Jumps Nearly 4%

The pandemic has kept people home with nothing to do. If you’re like most of us, that means you’ve turned to Netflix, Inc. (NASDAQ: NFLX) at some point to kill some time.

The company has grown in revenue and subscribers since the pandemic began.

On October 20, Nextflix reported strong earnings. But the new subscriber signups failed to meet expectations. Netflix’s own guidance called for 2.5 million new subscribers. Analysts called for 3.6 million. The actual growth was only 2.2 million.

The stock price fell by nearly 7%.

Never one to disappoint investors, Netflix didn’t wait long to try to make up the revenue elsewhere…

Word came out during the middle of today’s trading: Netflix’s “premium” service will now cost $17.99 per month, up from $15.99. Its most popular “standard” service will now be $13.99 per month up from $12.99

The “basic” service is still $8.99 per month.

Netflix has raised its prices plenty of times in the past and has never suffered any long-term consequences. It was actually the stock of the decade in the 2010s returning investors an incredible 4,000%+ from 2010 to 2020.

Netflix shares rose to 5.7% on today’s news and closed the session up 3.7% to $501.21.

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