Netflix nears 100 million subscribers

Netflix nears 100 million subscribers

Netflix nears 100 million subscribers

Customer numbers outside of the U.S. hit 47.9 million but growth slowed to 3.5 million net additions, down from 5.1 million in the previous quarter.

The world's biggest paid video service signed 4.95 million new customers last quarter, fewer than the 5.49 million analysts were expecting.

As streaming video services like Amazon and Netflix gain more and more subscribers, revenue, and pull within Hollywood, it's become clear that the traditional cinema model of theatrical releases leading to home media several months later just isn't going to cut it. All the same, after taking into account the company's healthy second-quarter outlook, Netflix's latest earnings report did little to spark fears that the competition and/or high penetration rates have done much to slow its momentum. Netflix, based in Los Gatos, California, has lined up a slew of high-profile releases in the coming months, including new seasons of House of Cards, Orange Is the New Black and Master of None. Because of those expenses, Netflix said profit in the period will be 15 cents a share, short of analysts' estimate of 23 cents.

The company made a first-ever profit of $43 million on its worldwide operations during the quarter, but warned of a loss in Q2 due to continued investments.

In fact, Netflix turned in a rosier forecast for Q2 than Wall Street was expecting, both domestically and internationally.

North Korea Parades New Prototype Long-Range Missiles amid Nuclear Tensions
Unlike at some previous parades attended by Kim Jong-un, there did not appear to be a senior Chinese official in attendance. While Pyongyang seems to have backed down to USA military pressure for now, it is likely only a temporary pause .

While we project net subscriber growth to slow, the current results were surprising in light of the strong 1.93 million total net adds in the U.S.in the previous quarter. The report was not enough to win over investors anxious about the stock's pricey valuation, recently at 110 times expected earnings.

Netflix added almost five million subscribers worldwide in the first quarter of 2017, down from more than seven million subscribers it added the quarter before that.

Revenue rose 35 per cent to US$2.64 billion in the quarter.

"We definitely have YouTube envy", Hastings said.

In a measure of how much Netflix subscribers like the service, Hastings said Monday that they collectively stream more than 1 billion hours of programming per week. In a broad sense, the company wrote, it's making an effort to improve its "content offering to match local tastes in Asia, Middle East, and Africa", while it acknowledges that it has a long way to go to equal the strong progress it has already made in Latin America.

Recommended News

  • Nazem Kadri: Nazem Kadri helps lead Leafs over Capitals

    Nazem Kadri: Nazem Kadri helps lead Leafs over Capitals

    The Leafs have seven rookies on their team who were fundamental all season, but the return of Nikita Zaitsev is going to be huge. But they generated few shots or scoring chances beyond the goals and the Leafs pushed back with Matthews' first of the series.
    Sessions expands program to combat crime on tribal lands

    Sessions expands program to combat crime on tribal lands

    He said MS-13 has been regenerating its membership "because of an open border and years of lax immigration enforcement". Attorney General Jeff Sessions has painted himself as tough on crime , specifically drug use and illegal immigration.
    Alabama Governor Kay Ivey goes right to work on first day

    Alabama Governor Kay Ivey goes right to work on first day

    Ivey, 72, will be Alabama's second female governor, following Democrat Lurleen Wallace, according to the Huffington Post . Questions swirling around the capitol Tuesday now that former Governor Robert Bentley is out of office and former Lt.
  • Japan's Abe calls for 'peaceable' resolution on North Korea

    China recognizes that North Korea is a problem , but it is pursuing a distinctly different path to a resolution than the U.S. Economic Dialogue at the prime minister's office in Tokyo , Tuesday, April 1.

    United Kingdom election on June 8 aims to put Brexit fears to rest

    A resounding win would bolster her mandate in upcoming talks with the European Union over the country's exit. Buckingham Palace has made no statement on what the monarch's reaction is to the news of an early election.

    Apple on track to test self-driving cars in California

    In response, a DMV spokesperson told the Financial Times that the license covers three 2015 Lexus RX450h hybrids and six drivers. According to Loup Ventures founder Gene Munster, the permit to test cars in California was not a surprise.
  • Boston Marathon retires Bib 261 for women's pioneer Switzer

    Boston Marathon retires Bib 261 for women's pioneer Switzer

    She ran with 125 other runners representing her women's-empowerment running club and non-profit, 261 Fearless . It's been 50 years since the first woman completed the 26.2 mile journey from Hopkinton to Boylton St.

    Facebook killing suspect dead after police chase

    A $50,000 reward was being offered for information on his whereabouts which would help lead to his arrest. Facebook came under severe criticism for not removing the murder video for more than two hours.

    Tight security for Bayern, Real Madrid match — UEFA CL

    With Gareth Bale ruled out with the calf problem he sustained in the first leg, Madrid will be relying on their star man. Few of a Madrileno persuasion could have complained if Ancelotti had come away victorious on his old stamping ground.
  • Prosecutors likely to toss thousands of tainted drug cases

    Prosecutors likely to toss thousands of tainted drug cases

    Defense lawyers hailed the dismissals as a triumph over a system that valued convictions over due process. District attorneys, CPCS, and the ACLU have been tackling the logistics of reaching so many defendants.

    Man killed 3 on street, says he 'hates white people'

    The suspect, identified as Kori Ali Muhammad , is also thought to be behind the shooting death of a security guard last week. All four of the men killed on Tuesday were white, as was the security guard and the other man Mohammad shot at but missed.

    Samsung delays launch of Bixby voice assistant on Galaxy S8

    Some early reviewers also expressed their disappointment after using Bixby in demonstrations. However, in demos for Axios , the new voice assistant Bixby failed to work properly.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.