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Netflix adds more subscribers than thought | Netflix adds more subscribers than thought |
(35 minutes later) | |
Netflix added nearly seven million new customers in the three months to September, bringing its total to more than 137 million members worldwide. | Netflix added nearly seven million new customers in the three months to September, bringing its total to more than 137 million members worldwide. |
The growth helped send the firm's shares up more than 10% in after-hours trade and came as the firm premiered a record amount of original programming. | |
Shows included new seasons of Orange Is The New Black and BoJack Horseman. | |
Netflix is among the first of the major US technology companies to report earnings to investors this quarter. | Netflix is among the first of the major US technology companies to report earnings to investors this quarter. |
During the quarter, it added about 676 hours of original programming in the US, 135% more than in the same period a year earlier. | During the quarter, it added about 676 hours of original programming in the US, 135% more than in the same period a year earlier. |
Revenue increased 34% year-on-year to nearly $4bn, while profits more than tripled to $403m. | Revenue increased 34% year-on-year to nearly $4bn, while profits more than tripled to $403m. |
It had told investors to expect growth of about five million. | It had told investors to expect growth of about five million. |
The strong growth followed an unusually weak second quarter that had fanned worries about the online streaming firm's future. | The strong growth followed an unusually weak second quarter that had fanned worries about the online streaming firm's future. |