Arts&Culture

Netflix Nears 100 Million Subs Mark

Netflix Nears 100 Million Subs Mark

Considering that Netflix ended its first quarter with 98.5 million total subscribers, Jefferies analyst John Janedis said the fact that the company already expects to crack 100 million this weekend means it has already significantly chipped away at its second-quarter growth guidance.

Netflix reported profit of US$178 million on revenue of US$2.64 billion in the first three months of this year, compared with net income of US$28 million on revenue of US$1.96 billion in the same period a year earlier.

Netflix now has a market value of about $63 billion.

Meanwhile, Bloomberg reported that analysts had predicted that Netflix would add 5.49 million new users in the first quarter.

EMarketer estimates Netflix will have 128 million viewers in the United States this year, up 6.6% from last year.

In comparison, Netflix gained 7.05 million subscribers in the prior quarter, raising expectations in the market. Formidable Asset Management LLC now owns 4,695 shares of the Internet television network's stock worth $582,000 after buying an additional 36 shares during the last quarter. Netflix shares took a small dip right after the release but reversed course to 1.5% gains and fresh all-time highs later in the after-hours trading session.

Umbilical cord blood could slow brain's ageing, study suggests
When the researchers injected TIMP2 into elderly mice, the results were almost identical to using the human umbilical cord blood. Mice that remembered the unpleasant experience would, when reintroduced to the chamber, freeze in anticipation of the shock.

By the end of this year, Piper Jaffray analyst Michael Olson says that he expects the majority of Netflix's subscribers to be overseas. Worldwide subscriber number was guided to 2.60 million, also ahead of his estimate and the consensus of 1.50 million and 1.48 million, respectively.

Netflix expects to add 2.6 million subscribers internationally next quarter - it launched in 130 additional countries previous year - and 600,000 subscribers in the US, both which exceed analyst estimates. That $2.5 billion figure Netflix pulled in during Q1 represents the lion's share of its overall revenue, which climbed above $2.6 billion when factoring in its DVD business.

The earnings beat was due to the change in timing of "House of Cards", which helped push costs into the second quarter, boosting operating margins from January through March and reducing them in the second quarter. "We see that the Internet is just a phenomenal opportunity, of course, we're pay service, not ad-supported", he pointed out.

After global expansion of Amazon Video took place late a year ago, the company is beginning to open up the wallet to compete better with streaming rival Netflix.

Movie and TV studios typically also demand more money as more people subscribe to channels to in an effort to make as much as possible off their content.


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