Netflix Inc has crumpled Wall Street predictions by adding 5.2 million new flowing customers in the second quarter and projected continued momentum as foreign subscriptions are on top in United States.Shares of the streaming-television pioneer jumped US$16.82 to US$178.55 in after-hours trading, beating their all-time intraday high of US$166.87 on June 8. Netflix is expecting that the foreign users will give them a full year profit for overseas market. At the end of June. This is the first time that Netflix has more abroad user than they have in United States.
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A sturdy schedule of TV series, such as 13 Reasons Why and the latest season of House Of Cards have got more and more customers as Netflix expected in second quarter, naturally its slowest season of the year. Wall Street had expected 3.2 million new customers worldwide.
Netflix added 4.14 million monthly subscribers in non-US markets, far more than the average analyst estimate of 2.59 million, according to data from analytics firm FactSet. In the United States, it is having 1.07 million subscribers, and proofed wrong to the forecasters average estimate of 631,000.
It has predicted to have more than 3 million customers till September.
The leadership assumes much of the second quarter’s momentum will continue. It is spending US$6 billions a year on content to win new subscribers in a quest to become the world’s No 1 streaming provider, even as it faces a stoppage in US customer growth. It is customizing content for different countries and adding shows in various languages.
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