Netflix adds more subscribers than expected; shares rise | Reuters

Video-streaming service Netflix Inc's quarterly subscriber additions topped its expectations, boosted by strong international growth, sending its shares up 8 percent in extended trading.

Netflix, known for its original shows such as "House of Cards" and "Orange is the New Black", said it added 5.59 million subscribers in the three months ended Dec. 31, higher than its forecast of 5.15 million.

Internationally, Netflix added 4.04 million subscribers, compared with its estimate of 3.50 million.

The company said on Tuesday it added 1.56 million U.S. subscribers in the fourth quarter, below the 1.65 million it forecast in October.

Shares of Netflix were trading at $116.50 after the bell.

Netflix, which started in 1997 as a DVD-rental-by-mail firm, forecast adding about 1.75 million customers in the United States in the current quarter.

It also said it expected to add about 4.35 million subscribers internationally.

Earlier this month, the company flipped the switch on its aggressive international plans, going live in more than 130 countries at once.

Netflix said revenue rose 22.8 percent to $1.82 billion.

Analysts on average had expected a profit of 2 cents per share and revenue of $1.83 billion, according to Thomson Reuters I/B/E/S.

Excluding items, Netflix earned 7 cents per share.

(Reporting by Anya George Tharakan in Bengaluru; Editing by Sriraj Kalluvila)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date: Jan 20, 2016 04:30 AM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See