Netflix adds more subscribers than expected

Netflix crushed its earnings on Monday, and the stock soared over 20% in after-hours trading.

Analysts surveyed by Thomson Reuters had projected earnings of 6 cents a share on $2.28 billion in revenue.

Streaming giant Netflix now has 86.74 million subscribers after adding 3.2 million overseas and 370,000 in the USA during the third quarter. Netflix had expected this segment to add 2 million subscribers for the quarter.

Q4 subscriber growth guidance (domestic): 1.45 versus Wall Street forecasts of 1.0 million.

Netflix expects 5.2 million subscriber additions during the fourth quarter, 1.45 million in the USA and 3.75 million internationally.

"Stranger Things" "is the kind of broad appeal, cross demographic, and cross border sensation that we hope will distinguish Netflix original content", the company said. "The growth of Internet TV globally has ushered in a new golden age of content, with consumers everywhere enjoying unprecedented access to incredible amounts of high quality programming", the company said. Before that, the stock had fallen 13% this year as the streaming video giant has struggled to keep up the pace of subscriber growth, despite an ambitious expansion overseas.

The additions included 370,000 new subscribers in the USA, and 3.2 million in global markets.

The company said it plans to license content to existing online service providers in China rather than operate its own service in China in the near term. "The regulatory environment for foreign digital content services in China has become challenging", the company wrote.

After Netflix reported its second-quarter results in mid-July, its stock tumbled 13% the next day to $85.84 a share.

In the United States, Netflix added 370,000 subscriptions, compared with analysts' estimate of 309,000, according to research firm FactSet StreetAccount.

Revenue was $2.2 billion, up from $1.6 billion a year ago, topping the $2 billion mark for the first time.

Related news:

Hot News

Note 7 Southwest Airlines Incident: Smoke From Replacement Device Prompts FAA Investigation
Oct 17, 2016 - 01:39
The incident prompted fresh investigations by the Consumer Product Safety Commission and the Federal Aviation Administration. Green said he had just tucked the phone into his pocket as flight attendants were doing a safety briefing when he saw smoke.

PM May challenged over right to implement Brexit
Oct 17, 2016 - 01:37
The vote "did not involve any expression of view of when and what terms we leave and what role Parliament should play". But he insisted: "What I won't allow is any party to have a veto on the decision to leave the European Union ".

isis-killer-beheading-video-story-top New York Giants Offense Comes Up Short Against The Green Bay Packers
Oct 17, 2016 - 01:35
Along the way, they mixed the run and pass, changed personnel groups on every play and kept the Giants defense off-balance. We've played some good teams the past two weeks, and we've got to take a hard look at the tape and get better from it.

Email: Clinton campaign tried to move back Illinois primary
Oct 17, 2016 - 01:31
The revelations come shortly after Wikileaks published a "treasure trove" of hacked emails coming from Democratic officials. The email exchanges made public by Wikileaks also show the scorn of Clinton campaign staff members for Church teachings.

Srisena in Goa Attending BRICS Summit
Oct 17, 2016 - 01:29
He urged the members of BRICS to adopt the Comprehensive Convention on International Terrorism (CCIT) as early as possible. He intra-BRICS trade, which stood at $ 250 billion in 2015 must be doubled to $ 500 billion by 2020.

isis-killer-beheading-video-story-top Ryan Moore gets his revenge with Ryder Cup-clinching victory
Oct 16, 2016 - 00:43
Europe earned 3 points in the first five matches but it wouldn't matter as the USA won five of the final six to win 17-11. Moore got his revenge Sunday, rallying from 2-down with three holes to play to pull out the victory over Westwood.

isis-killer-beheading-video-story-top Ohio Republican lawmakers condemn Donald Trump's comments about women
Oct 16, 2016 - 00:41
The final match-up will unfold October 20th in Cleveland, at an event sponsored by the Cleveland City Club and Scripps ABC. That has prompted the Strickland campaign to cut its TV ad buys in Youngstown and three other OH cities.

isis-killer-beheading-video-story-top How Yemen's stalemate war could entangle US
Oct 15, 2016 - 00:54
Iran, which supports the Houthi group, said it had deployed two warships to the Gulf of Aden, to protect ship lanes from piracy. More recently, American and other allied warships have stopped several shipments of weapons from Iran to the Houthis.

South Jersey has front row seat to view Sunday evening rocket launch
Oct 15, 2016 - 00:50
After launchpad testing was conducted in May, NASA contractor Orbital ATK targeted a July launch and then a late August launch. To aid the launch, a tracking station at Bermuda will provide downrange tracking, telemetry and flight termination support.

Seven Ways Russia Is Telling People to Prepare for War
Oct 15, 2016 - 00:49
Mr Assad branded Turkey's actions an "invasion, against global law, against the morals, against the sovereignty of Syria". He has offered the Aleppo rebels an amnesty if they lay down their arms, though they have dismissed it as a trick.

isis-killer-beheading-video-story-top Donald Trump, Hillary Clinton sing Dirty Dancing duet in hilarious debate edit
Oct 15, 2016 - 00:49
In another poll carried by The Wall Street Journal and NBC News , Clinton leads by a similar 11-point margin against Trump . These results were rather partisan, as 82% of Democrats chose Clinton, while 68% of Republicans picked Trump .

EU chief promises tough talks on UK departure
Oct 15, 2016 - 00:46
His EU colleagues are expected to discuss just how painful the process could be for the remaining members of the 27-nation bloc. Speaking before the Foreign Affairs Committee on Thursday, Johnson dismissed negativity surrounding Brexit discussions.

isis-killer-beheading-video-story-top Belgian parliament rejects CETA, threatening to kill entire deal
Oct 15, 2016 - 00:46
He warned that killing the deal would send " a very clear message. that Europe is not productive ". This parliament truly defends its citizens, not the interests of lobbyists and corporations.

isis-killer-beheading-video-story-top TCS' Q2FY17 beats estimates; reports 4% rise in net profit
Oct 15, 2016 - 00:45
What is very clear from TCS' numbers is that traditional revenue streams that are on a decline, is weighing on growth. Commenting on Q2 performance, N Chandrasekaran, CEO and MD, TCS, said, "It has been an "unusual Q2" for TCS".

isis-killer-beheading-video-story-top Airstrikes hit rebel-held neighborhoods of Syria's Aleppo
Oct 14, 2016 - 07:52
The West has accused Moscow and Damascus of committing potential war crimes in the operations against eastern Aleppo. And the White House said on Tuesday it would consider a variety of responses to the alleged hacks.