Netflix surges on massive subscriber growth

19 Octobre, 2018, 19:19 | Auteur: Auguste Feret
  • Markets Insider

Shares have surged more than two-thirds this year and closed on Tuesday at $346.40 in NY, valuing the company at nearly $154bn. The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.94 billion.

Video streaming giant Netflix plans to experiment with their pricing models to grow its user base in India and other markets, including launching a lower cost subscription plan. "The latter has not developed at a pace that exceeds our expectations, which suggests upside is more limited". HPM Partners LLC boosted its holdings in shares of Netflix by 30.2% in the 2nd quarter.

The firm's shares are have risen than 65% so far this year.

The stronger than expected growth - which is a record for the third quarter - sent shares up 11 per cent in after-hours trading. Netflix also issued an upbeat outlook for the current three months, saying it plans to add 28.9 million customers in total this year, a record for the 21-year-old company.

Netflix arrived in India at the beginning of a year ago.

"Given the decreasing efficiency of content and marketing spending, we are decreasing our global contribution profit estimates", he wrote. On average, sell-side analysts predict that Netflix, Inc. will post 2.67 earnings per share for the current fiscal year.

Netflix is showing accelerating growth as the company expands.

During the quarter, the company added 6.96 million net subscribers-1.09 million new subscribers in the USA and 5.87 million internationally.

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Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens.

Netflix is investing more than $8 billion (£6.07 billion) in entertainment programming this year to lure new customers around the world.

Shares of the company were up 10 percent at $381.21 before the bell.

Netflix is forecasting paid net additions of 7.6 million for Q4 and total net additions of 9.4 million.

Revenue in the quarter increased 34 per cent year-on-year to almost $4 billion, while profits more than tripled to $403 million.

Helped by a roster that includes top-grossing movie franchise "Baahubali", it has won fans among a young, tech savvy middle class and Chief Executive Officer Reed Hastings has said India could deliver the service's next 100 million subscribers. Netflix parents are happy to pay for that kind of babysitting so long as the content is there.

There is more uncertainty ahead as competition moves in: Apple has been beefing up its offerings, and Disney is expected to debut its much-anticipated direct-to-consumer service next year.

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