
This followed results for the second quarter of 2015 that were better than expected, as subscribers climbed to 65m worldwide.
The additional subscribers totalled a third more than projected, rising around 94 per cent year-on-year to about 3.3m for the second quarter – ahead of the company’s forecast of 2.5m. The streaming service now has a bigger population than the UK – which sits at 64.6m according to ONS. Of the subscribers, 42m are in the US. This increase helped lift Netflix’s shares more than ten per cent in after-hours trading to around $107. Netflix also reported a six cent per share profit, which fell short of the 16 cents EPS the company posted in the same quarter a year ago. Revenue for the second quarter was $1.48bn – compared to $1.22bn last year. Hastings said a strong launch in Australia and the popularity of Netflix’s Spanish language content with subscribers had been key contributors to the successful results. The company has aggressive expansion plans for the foreseeable future – aiming to reach 200 countries, including China, by the end of 2016. He also expressed reluctance to celebrate the results too extensively, saying increased attention would make him “cautious”. The company has told investors it doesn’t expect to break even globally until the close of 2016. There had been a falloff in net income which underscored the significant level of investment required to implement its push towards original programming and rapid expansion overseas.- Keeping business networks running smoothly during live streaming events
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