Netflix crushes estimates, renewing faith after July letdown

Netflix crushes estimates, renewing faith after July letdown

Only about 1 million of the almost 7 million new subscribers came from the United States. "The variance relative to forecast was due to greater-than-expected acquisition globally, with strong growth broadly across all our markets including Asia". For the record Netflix produced shows had over 112 Emmy nominations, and 23 wins (a tie with HBO for the most).

Netflix is planning a new film and television production hub in New Mexico; new research finds that one-third of "gluten-free" foods sold in US restaurants actually contains trace levels of the substance.

For now, Netflix said it was "super encouraged with India" and the growth that they have got early on but the company is aware that it's going to be somewhat of a tough market going ahead right.

Netflix shares soared in after-hours trading after the earnings beat, topping $398.

The video streaming giant said today it added an impressive 5.87 million global subscribers in the third quarter of 2018, far higher than a FactSet estimate of 4.46 million cited by CNBC. "That's a really good number for a market that's this mature".

The Los Gatos, California-based company said revenue jumped 34 percent to $4 billion, matching estimates of Wall Street analysts polled by Refinitiv. Nor does the company release viewership figures for programs, contending that subscriber growth demonstrates the popularity of its entertainment slate.

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Rivals have long groused that Netflix can spend ungodly sums without ever having to make money itself.

Worldwide territories account for most of that growth and remain the key to the company's future.

The firm has said it plans to spend as much as $8bn on content this year, with more than a quarter devoted to original programming.

Analysts from US financial group Keybanc downgraded their rating on Netflix to "sector weight" from "overweight", questioning whether the company was capable of improving investment returns and margins in years to come.

Currently, Netflix is the most expensive streaming service in India, starting at Rs. 500 per month for a single screen and Rs. 650 per month for HD quality. While the company expects an inflection point in 2020, we do note that increasing competition from not only Disney but possibly launches by Warner Media, Apple, and Walmart should increase the amount of competition.

Is Netflix anxious about competition yet? "The game is on".

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