By Kathryn Hardison

Netflix Inc. said Thursday that co-founder Reed Hastings would transition from co-chief executive to executive chairman, and it named longtime executive and heir apparent Greg Peters as a new co-CEO alongside Ted Sarandos. The move comes as Netflix beat its own forecast for subscriber gains in the final quarter of the year, adding nearly 7.7 million new customers. Shares increased 7.1% in after-hours trading.

Nordstrom Inc. reported a 3.5% sales decline for the recent holiday season as consumers responded to economic challenges, leading the department-store chain to adjust its full-year outlook. Shares declined 5.8% in after-hours trading.

T-Mobile US Inc. said hackers accessed data, including birth dates and billing addresses, for about 37 million of its customers, marking the second major security lapse at the wireless company in two years. Shares declined 1.8% in after-hours trading.

Write to Kathryn Hardison at kathryn.hardison@wsj.com

(END) Dow Jones Newswires

January 19, 2023 18:42 ET (23:42 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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