The crown still fits: Netflix rises on big subscriber gains

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LOS GATOS — With its most recent quarterly results, Netflix is showing that it has no plans on relinquishing its crown on the throne of the internet-based streaming TV market.

Netflix said Monday that it added 7.41 million new subscribers worldwide during the first quarter of 2018, blowing away its own forecast of 6.3 million subscriber additions. Those gains gave Netflix a total of 125 million subscribers around the world.

In the United States, Netflix proved demand isn’t waning either, as it added 1.96 million new subscribers to reach 56.7 million subscribers in what remains the company’s single largest viewership market. Netflix earlier estimated it would add 1.45 million new U.S. subscribers.

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Investors reacted positively to Netflix’s subscriber gains and results by sending the company’s shares up by more than 6 percent, to $327 a share in after-hours trading Monday.

The company said its subscriber gains were fueled by reaction to its slate of original and exclusive programming content, including the premiere of the sci-fi series “Altered Carbon” and the new seasons of shows like “A Series of Unfortunate Events” and “Marvel’s Jessica Jones.”

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Source:: The Mercury News – Business


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