INTERNATIONAL - Netflix, Inc. (NASDAQ: NFLX) has released its first-quarter 2018 financial results by posting the results on their website.
In the document, The company gives an opening statement saying, " Fellow shareholders, We strive to entertain and to bring joy to people across the world through amazing stories. Our 125 million members provided us with $3.6 billion in streaming revenue in Q1. Our job is to spend this money wisely to increase our members’ delight."
To cut it short, Here are 5 main points about the Q1 results:
1. The streaming giant added 1.96 million U.S. streaming subscribers and 5.46 million internationally for the quarter.
2. This means they have added a total of 7.41 million subscribers, which is up 50% year-over-year and ahead of its 6.35 million forecast.
This makes it a total of 125 million subscribers for Netflix.
3. Netflix’s revenue grew 43% year-over-year in Q1, making it the fastest pace in the history of its streaming business.
4. Netflix shares jumped more than 6% in after-hours trading Tuesday. The stock had closed down 1.2% for the day in regular trading, to $307.78 per share.
5. Netflix’s marketing spending was up by 77% in the first quarter, to $479 million.
If you want to know more, They have also released a video explaining their results as well as future expectations you can watch below.
- BUSINESS REPORT ONLINE