Netflix blows by estimates, adds 7.4M subscribers in Q1
17 April, 2018, 10:36 | Author: Tara Reeves
The pricing upturn is one reason Netflix's first-quarter earnings climbed 63 percent from previous year to $290 million, or 64 cents per share. Last week, Comcast agreed to include Netflix subscriptions in more of its cable packages, opening up a way for Netflix to connect with hard-to-reach potential new members, even though the two waged a public battle against each other in 2014 over net neutrality.
Netflix's eye-popping programming costs and its eye-popping subscriber numbers are related.
Netflix's stock jumped more than 6% in after-hours trading on Monday. The stock fell 1.2 percent to $307.78 at the close in NY and is up 60 percent this year. He did, however, touch on the troubles other technology giants like Facebook are now encountering with data privacy, and claimed that not being in the advertising business keeps Netflix from being vulnerable to those issues. That took the gain so far this year to more than 68%.
Operating margins hit 12.1%, a high among recent quarters, and net income reached $US290 million, up 63% from a year ago as 2017's price rise kicked in.
A number of equities analysts recently weighed in on the stock.
Looking ahead to the second quarter, the company is calling for $0.79 in EPS on $3.93 billion in revenue. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.28 billion. In the first quarter of this year, Netflix's average revenue per paying subscriber worldwide stood at $10.10 per month, up 14 percent from $8.89 per month at the same time last year.
Total streaming content obligations grew to $17.9 billion in the first quarter, up from $17.7 billion three months earlier, and that doesn't account for the ballooning budget to market shows.
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. The company already makes more movies than any studio, with about 80 on tap for all of 2018, and more than one stand-up special a week.
Expectations were high heading into Netflix's earnings report. It's not common for growth to re-accelerate at an already large company, particularly one like Netflix, which has already signed up roughly half or more of US households that have fast internet service. In the first quarter it debuted "Altered Carbon" and "The End of the F***ing World", in addition to returning seasons of "Marvel's Jessica Jones" and "Grace and Frankie". Netflix topped and said it'd bring about 6.2 million additional customers in April through June, 1 million longer than analyst predictions.
Netflix has allayed concerns about its cash burn by continuing to add subscribers, convincing investors that the spending is effective.
But it has to continue to invest in original content because it is a way to attract new subscribers, and also because it's content that it can more easily distribute across different geographies and itself has control of the rights and what happens to it. Its impressive quarter came just three months after it raised prices for subscribers in the USA, its largest market. Last week, Comcast Corp. said it would offer Netflix subscriptions to its cable TV service, giving the world's largest streaming platform another way to boost its viewer base in the USA, its biggest market.
Mr Nebenzia also called for the UN Security Council to meet again on Friday to discuss the possibility of Western military action. The US and France said they had proof it took place and, alongside the United Kingdom , were considering military retaliation.
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Still, the momentum was all with the Heat - Josh Richardson stepping up on both ends of the floor as his team kept their lead. Wade however had other ideas, grabbing a two-pointer before finding Johnson with a superb pass to make it 102-96.
The Boston Celtics are shooting 42.3 percent from beyond the arc and 88.9 percent from the free throw line. Milwaukee comes in as the heavy underdog, the No. 7 seed going against the second-seeded Celtics.
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