Netflix to Reach 100 Million Subscribers

Netflix to Reach 100 Million Subscribers

Discussing the Q2 guidance, analyst David Miller said the company's earnings per share guidance of $0.15 was short of his estimate as well as the consensus estimate of $0.24.

Investors have permitted Netflix to operate near break-even on the expectation that the company, which expects to top 100 million customers this week, will continue to grow rapidly, especially outside the U.S. Chief Executive Officer Reed Hastings has also pledged to deliver material profits starting this year.

The US-based streamer added 1.42 million US subscribers and 3.53 million internationally during the period, down on its projections of 1.5 million and 3.7 million respectively.

Customer numbers outside of the USA hit 47.9 million but growth slowed to 3.5 million net additions, down from 5.1 million in the previous quarter.

Netflix reported first-quarter customer numbers slightly below expectations, but said it still sees "gigantic" potential for worldwide growth.

Regardless of the quarterly miss, Hastings emphasized on the webcast he fully expected Netflix to finally cross the 100 million user mark this weekend - a milestone Hastings has talked about in recent quarters. Wall Street had been modelling for Netflix to earn 24 cents a share excluding items on sales of $2.76 billion.

Pachter along with the other analyst are thinking for how much time Netflix will be able to hold the line on price as movie and TV studios typically demand more money as more people subscribe to channels.

"The company needs to plan for a future in which its U.S. business is virtually saturated, and overseas growth starts slowing", said Paul Verna, eMarketer principal analyst focused on digital video.

Netflix stock fell by more than 2% on Wednesday, touching as low as $139.77 during regular trading hours.

"Investors ask us about Amazon's move into NFL football", the company said in a statement as it released its Q1 2017 results. 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.

The company described the opportunity provided by the growth of the global internet is "gigantic" and said it plans to keep investing as it increases membership, revenue and operating margins.

Netflix planned to spend a billion dollars this year on marketing aimed at attracting members.

For the last several years we've had flat operating margins due to established markets funding global expansion with every spare dollar we had.

The streaming giant had forecast an addition of 5.2 million new subscribers from January through March 2017, compared with 6.74 million added during those three months a year ago.

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