Netflix shares moved firmly higher in early Wednesday trading, and look set to pass the $1,000 mark for the first time on record, following a blowout set of fourth quarter earnings that cemented its lead as the world's biggest streaming group and triggered a flurry of upgrades from analysts on Wall Street.

Netflix NFLX shares jumped more than 14% in pre-market trading after the company reported fourth-quarter 2024 earnings of $4.27 per share, which beat the Zacks Consensus Estimate by 1.67%. The figure jumped 102.

The company also announced a $15 billion stock buyback and boosted its full-year revenue outlook in its after-hours report on Tuesday. Netflix now projects 2025 revenue between $43.5 billion and $44.5 billion, ahead of the prior $43 billion to $44 billion range.