Netflix Added Nearly 7 Million Subscribers in Previous Quarter

Netflix Added Nearly 7 Million Subscribers in Previous Quarter

Netflix ended September with 137 million worldwide subscribers, including 58.5 million in the U.S. Said eMarketer media analyst Paul Verna. It invests billions in original programming and uses those new TV shows and movies to lure subscribers.

"It was a surprisingly good quarter that caught a lot of the financial community off guard", said Jim Nail, a senior analyst at Forrester Research. However, despite the unexpected cold shower last quarter, Netflix bulls remain confident the stock will rally.

Some have begun to question, however, whether Netflix's business model is as durable as the share price action suggests, given the huge investments the company has begun to make in its own content, and burgeoning competition. "The variance relative to forecast was due to greater-than-expected acquisition globally, with strong growth broadly across all our markets including Asia".

Analysts had cut their price targets for Netflix shares ahead of its earnings report, citing a combination of the strength of the dollar, rising expenses and interest rates.

Netflix has upended the economics of pay TV by offering customers thousands of programmes on-demand for a monthly fee that's a fraction of the cost of a multichannel cable or satellite package.

CDC: Mysterious paralyzing illness reported in 22 states
Sixty-two cases of the rare but serious condition have now been confirmed in 22 states, including Pennsylvania and New Jersey. For example, the CDC doesn't know who may be at higher risk for developing AFM or why some are at higher risk, she said.

Plane carrying Melania Trump forced to turn around over smoke in cabin
Trump was on her way to Philadelphia for a visit to Thomas Jefferson University Hospital related to her "Be Best" campaign. Stephanie Grisham, the first lady's communications director, told CNN the incident was a " minor mechanical issue ".

Meghan Markle & Prince Harry Show Parenting Skills With Adorable Kids
It was a touching break from royal protocol for Prince Harry to speak of his personal struggles with mental health. Elizabeth Alexandra Mary was born on April 21, 1926 at 17 Bruton Street, London.

The company added 6.96 million subscribers - beating analyst predictions of 5.1 million - and took in $4 billion (roughly Rs. 29,400 crores) in revenue, matching those analysts' projections.

The company has been one of the world's best-performing stocks because investors believe it has years of growth ahead. But the recent tech selloffs left and right have done nothing to boost investor confidence and Netflix stock could be set to take another hit. It added 6.96 million new subscribers, exceeding expectations and coming in particular relief after the company disappointed during its previous quarter. While the service released 452 hours of new work, according to a report from Cowen & Co., the lineup didn't include new seasons of any top shows.

Chief Executive Reed Hastings, who has pegged Netflix's content spending at $8 billion this year alone, told investors his firm is in for a battle.

Analysts estimate that it added about 676 hours of original programming in the USA in the most recent quarter - 135% more than in the same period a year ago. "Quotas, regardless of market size, can negatively impact both the customer experience and creativity", Hastings said. Streaming revenue surged 36%, reaching almost $4 billion in the quarter - a performance that matched Wall Street's forecasts of $4 billion.

Related News:

  • Wilder apologizes after decking TV mascot

    Wilder apologizes after decking TV mascot

    He'll take on the Gypsy King in Las Vegas, with the victor set to be granted a fight against Anthony Joshua sometime next year. Wilder was promoting his highly anticipated fight with Fury when he appeared on Spanish language sports show Nation ESPN .
    Pakistan Captain Sarfraz Ahmed Batting Stance vs Australia Has Got Twitter Talking

    Pakistan Captain Sarfraz Ahmed Batting Stance vs Australia Has Got Twitter Talking

    Labuschagne, who took a juggling grab to remove Mohammad Hafeez off Mitchell Starc in the third over, also dismissed Sarfraz. The captaincy and tactics of Pakistan's Sarfraz Ahmed has come under question following the first game of the series.
    West Indies coach Stuart Law suspended for first two ODIs against India

    West Indies coach Stuart Law suspended for first two ODIs against India

    Leading the team from the front, Windies skipper Jason Holder took a five-wicket haul and restricted hosts with a lead of 56 runs. Rishabh Pant's 152 runs fifth-wicket stand with Ajinkya Rahane, who made 80, was the highlight India's first innings.
  • Khashoggi was dismembered as Saudi operatives listened to music, report claims

    Khashoggi was dismembered as Saudi operatives listened to music, report claims

    He said Saudi Arabia originally pledged its contribution in August, and USA officials were expecting to receive it by the fall. After speaking with the king, Trump floated the idea that " rogue killers " may have been responsible for the disappearance.
    Donald Trump rains insults on Elizabeth Warren after DNA test

    Donald Trump rains insults on Elizabeth Warren after DNA test

    The DNA test results show Warren is somewhere between 1/64 and 1/1,024 Native American , or between 0.097 and 0.156 percent. She continued, "I think of her as a smart woman and not getting into petty politics, and that's exactly what this is".
    Senator Collins returns home after threatening letter found by her husband Featured

    Senator Collins returns home after threatening letter found by her husband Featured

    Daffron, their dog, and parts of their home were quarantined while the crime lab undertook an analysis of the premises. A spokeswoman for the Republican senator said the envelope was addressed to Daffron, The Associated Press reported.
  • Theresa May to give Brexit update after talks break down

    Theresa May to give Brexit update after talks break down

    Irish President Leo Varadkar also urged both sides to "get down to business", adding he was keen to see a deal by November. The official cabinet meeting saw them served sausage, bacon and eggs, and not pizza, a Number 10 source said.
    Camila Giorgi claims her second career title — WTA Linz

    Camila Giorgi claims her second career title — WTA Linz

    Having been matched well in the early stages, Giorgi ruthlessly took her first break point opportunity to nudge in front at 5-3. Giorgi won her first title back in 2015 at the Ricoh Open in 's-Hertogenbosch, defeating Belinda Bencic in the final.
    Netflix surges on massive subscriber growth

    Netflix surges on massive subscriber growth

    Netflix has prepared for this, beefing up worldwide programming and production as it approaches a ceiling in the United States. Analysts were expecting 7.7 million - 1.6 million in the United States and 6.1 million internationally, according to Instinet.
  • WWE legends return for SmackDown 1000 live on Sky Sports

    WWE legends return for SmackDown 1000 live on Sky Sports

    WWE invades Washington, DC at the Capital One Arena for tonight's episode of SmackDown Live, which is the 1000th edition. And now, the Best and Worst of WWE Smackdown Live's 1000th episode for October 16, 2018 .
    Meghan Markle will miss out on this pregnancy tradition as a royal

    Meghan Markle will miss out on this pregnancy tradition as a royal

    The royals began a 16-day Pacific tour on Monday, landing in Sydney and nearly immediately announcing the duchess´ pregnancy. One woman even had the flies swatted away by Harry , who drew laughs from the crowd for this comical swatting technique.
    Roseanne exits The Conners, and she is not happy about it

    Roseanne exits The Conners, and she is not happy about it

    Initially, Roseanne's family is in disbelief, particularly Dan, who says defensively that he had flushed her pills. After the second commercial break, Darlene (Sara Gilbert) picks up a bag of pills sitting on the kitchen table.


Most liked

As women we feel vindicated, says Priya Ramani
An Indian minister accused of sexual harassment by more than 20 women has resigned as India's #MeToo movement widens. Mr Akbar's resignation came as pressure grew on the government to respond to the allegations being made against him.

Iranian security troops kidnapped on southeastern border
An Iranian official said the servicemen had been captured by terrorists from the Lulakdan border area in the country's southeast. Pakistan's ambassador to Iran Riffat Masood could not present her credentials to President Hassan Rouhani on Tuesday.

Section 144 to be Imposed from Midnight at Four Places Near Shrine
Several journalists also took out a march to the secretariat in Thiruvananthapuram complaining of attacks on the press. Sreedharan Pillai, head of the Kerala BJP, pointed the finger at the state government and a bungled police operation.

Europe Offers Britain an Olive Branch to Break Brexit Impasse
It doesn't seem so according to European Union council president Donald Tusk. As Mr Corbyn and others have said: "It's groundhog day".

Pompeo sees 'serious commitment' from Saudis on missing journalist
Secretary of State Mike Pompeo has met with Saudi leaders to seek answers regarding the disappearance of a Saudi journalist. Turkish investigative agencies have said that he was brutally killed inside the consulate.

NASA astronaut on failed Soyuz launch: 'The first two minutes were great'
Rescuers picked them up after they landed a few hundred miles to the north of Baikonur and they were reported to be in good shape. His emotions bubbled up once he was reunited with his wife, their two young sons and his parents, back at the launch site.

Brexit: What would an extended transition mean?
Mrs May has offered to keep the whole United Kingdom in a customs union , but only for a temporary period. The choreography of Wednesday's summit opening highlights British isolation.

United States strike in Somalia killed 60 militants: Pentagon
Africa Command said in a statement that the strike occurred on October 12 near Harardere, a town 250 miles north of Mogadishu. It also remains a threat in parts of neighboring Kenya.

Rocket fired on Israel from Gaza: Israeli army
Prime Minister Benjamin Netanyahu vowed a devastating response to the continuing border crisis during a weekend cabinet meeting. The annual awards are given to acknowledge outstanding work in the fields of photo, print, radio and television journalism.

PH takes 56th spot in global competitiveness index
Russian Federation topped the competitive table among Eurasian economies and came second behind China among the BRICS nations. United States led the index with an 85.6 score, folowed by Singapore at 83.5 and Germany at 82.8.

Astros possibly caught cheating in ALCS Game 1
And we don't get caught up in the whole paranoia thing [with] the signs. "He hit it today, but I would go there 100 more times". Jackie Bradley Jr . would clear the bases with a grand slam and the Red Sox took a commanding 8-2 lead.

Pakistan hangs man for raping, murdering 6-year-old Zainab
Pakistan early on Wednesday hanged a man convicted for the rape and murder of six-year-old Zainab Ansari in January. An ambulance also arrived at the spot, along with Ali's brother and two of his friends, Geo TV reported.

Joachim Loew Defiant As Antoine Griezmann Double Sinks 'Very Good' Germany
France , though, regrouped following the restart, as Griezmann equalised just after the hour with a well-taken looping header. Griezmann , however, made no mistake from the spot.

First legal purchase of cannabis made in Newfoundland and Labrador
As Canada welcomes legalisation, supply shortages could develop, as happened in some U.S. states when legalisation arrived. The product would be returned to the branch if the person is underage, and a refund would be issued, the ministry says.

New York City's weekend free of shootings is first in decades
Mayor Bill de Blasio commended the NYPD for the lack of shootings while speaking at the department's graduation ceremony Monday. The weekend of 6-7 October, for example, was "terrible", with several shootings in Brooklyn and the Bronx, authorities said.