The free-viewing party is over at Netflix.
But the company’s financial results pleased Wall Street, sending its stock soaring in after-hours trading.
“We’re still not growing as fast as we’d like,” Netflix Chief Financial Officer Spencer Neumann said on a call with investors Tuesday. “So we’re building momentum. We’re pleased with our progress, but we know we’ve got a lot more work to do.”
Now the company is poised to change its strategies, including by exploring lower-cost plans with advertising and trying to wring money out of the 100 million households that use Netflix through shared log-in credentials and do not pay for the service. Here’s how that might play out for consumers.