By Reuters and Cheyenne Macdonald For Dailymail.com
Published: 21:31 GMT, 17 January 2019 | Updated: 23:06 GMT, 17 January 2019
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Dystopian movie 'Bird Box' helped Netflix Inc draw a record 8.8 million new paid streaming customers in the fourth quarter, but the company fell slightly short of Wall Street's revenue estimates and shares tumbled 3 percent late on Thursday.
The world's largest streaming service reported revenue of $4.19 billion for the quarter that ended in December, slightly below the $4.21 billion that Wall Street analysts had forecast, according to IBES data from Refinitiv.
It comes just days after Netflix announced it would be raising fees for US subscribers.
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Despite pulling in millions of new subscribers, the company fell slightly short of Wall Street's revenue estimates and shares tumbled 3 percent late on Thursday
The company reported earnings of 30 cents per share for the quarter, lower than a year earlier due to higher spending, but above Wall Street analysts' average estimate of 24 cents, according to Refinitiv.
Investors have come to expect fast-growing Netflix to handily beat forecasts. Without a blowout quarter, shares fell 3 percent in after-hours trading to $342.59.
'Results are broadly positive with its streaming service continuing to gain popularity, as is evident from its strong net additions globally,' said Investing.com senior analyst Haris Anwar.
'But results won't push its stock higher from here, with most of the good news already priced in after a massive rally earlier this month.'
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