Netflix Growth Slows Due To Content Delays

Netflix Growth Slows Due To Content Delays

Netflix Growth Slows Due To Content Delays

Fast forward to today and Netflix is on the verge of servicing more than 100 million streaming subscribers-it should hit (and exceed) the 100 million mark by the end of the second quarter.

Netflix may know something the rest of the world doesn't in terms of its second quarter, but if 100 million subscribers is in the cards for this weekend, it certainly looks like the SVOD will move ahead of its projections.

The streaming giant had forecast an addition of 5.2 million new subscribers from January through March 2017, compared with 6.74 million added during those three months a year ago.

Los Gatos, the company in California has a current market value as $US63 billion.

Previously the company had projected net gains of 1.5 million in the USA and 3.7 million internationally.

Netflix said it expects to add 3.2 million new customers in Q2 and to have a total of 8.15 million net adds in the first half of the year - down from 8.42 million in H1 2016.

In addition, the company reported it had added 4.95 million new subscribers, lower than its own expectations for 5.2 million subscriber additions and consensus expectations of 5.3 million net added subscribers.

The company also posted $2.64 billion in revenue - which met estimates and is up 34 percent from last year - and diluted earnings per share of $0.40, which beat estimates and is up from $0.06 last year.

Netflix stock was up more than 1% in after hours trading Monday. Netflix said it will spend more than $1 billion this year to "drive member acquisition". Its revenue of $2.64 billion in the first quarter remains flat with $2.64 billion. HBO takes pride in having 134 million subscribers at the global level, covering viewers paying for an internet-only variant of the channel that was sparked by Netflix's success.

Netflix's subscriber growth shows no sign of slowing, with nearly half its customers coming from outside the U.S.

Revenues: $2.64 billion, slightly below the firm's estimate of $2.65 billion, but in line with the consensus.

Subscriber additions came in just below guidance. "We are making good strides in improving our content offering to match local tastes in Asia, Middle East and Africa, but have much progress to make, like in Latin America a few years ago".

Netflix says the opportunity ahead remains "gigantic" despite a slowdown in subscriber numbers, including global markets.

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