“Chill” is the exact opposite of how investors feel in regards to streaming service Netflix, which posted up impressive numbers to kick off what it hopes to be a banner year.
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Netflix released its figures for the first quarter of 2018 — and the results were positive. A far cry from the mail-order DVD service it once was, Netflix has grown by leaps and bounds, managing to increase its subscriber base by nearly 2 million in the first quarter of the year alone, crushing initial estimates.
The announcement meant a sunny day for investors — shares of the company soared, rising more than 5 percent after the news broke, CNBC reported.
Overall, Netflix’s quarterly report card looks solid all around. The company’s revenue — $3.6 billion — and adjusted earnings per share of Netflix stock — 64 cents — came in close to target. And its total streaming numbers came out ahead in both domestic and international markets.
This quarter also marks a major milestone for the company — especially in the wake of challenges from competitors Disney and Amazon. It grew its international subscriber base by 50 percent, adding 7.41 million people over the past year.
Netflix can credit its success overseas — as well as in the states — with its massive push to create its own content.
“We’re investing in more marketing of new original titles to create more density of viewing and conversation around each title,” Netflix representatives said in a statement. “Because we operate in so many countries, we are able to try different approaches in different markets, and continue to learn.”
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