Netflix adds another 7.4M subscribers, posts $3.7B in revenue as shares rise 6%

Netflix CEO Reed Hastings. (GeekWire File Photo / Kevin Lisota)

News Brief: Netflix exceeded Wall Street’s expectations for its first quarter, adding another 7.4 million subscribers (2 million in the U.S.), up 50 percent year-over-year, as its total membership base grew to 125 million. It met expectations for profit and revenue, posting earnings per share of $0.64 on revenue of $3.7 billion. Shares were up more than 6 percent in after-hours trading. Netflix expects to spend another $8 billion this year on original content as it battles others like Amazon, Apple, HBO, and Hulu in the streaming world. Read the full earnings release and shareholders letter here.

About the Author: admin

i am as a writer and blogger...

Leave a Reply

Your email address will not be published. Required fields are marked *