Netflix subscriptions boom around world read more at here www.spinonews.com/index.php/item/1322-netflix-subscriptions-boom-around-world

Netflix Inc subscriptions increased around the world. Shares of Netflix rose to $119.82 in extended trade from a close of $99.80. 

 

In the three months to the end of September Netflix had about 83.3 million subscribers.

“Our over-performance against forecast was driven primarily by stronger than expected acquisition due to excitement around Netflix original content,” the company said in a statement.

Netflix added 3.2 million international subscribers, and 370,000 domestic subscribers. Total subscribers were up to 86.7 million.

[Image Source: Tech Crunch ]

Netflix Shares are absolutely blowing up, more than 20% in extended trading after the earnings report came out. With today’s jump in its stock, the company added nearly $10 billion to its market cap.

"Investors appear laser focused on subscriber growth, and so long as Netflix delivers on that metric, investors will bid its shares up," said Wedbush Securities analyst Michael Pachter.

Netflix has expanded into more than 130 markets worldwide, including most major countries, except China. It said on Monday it was dropping plans to launch a service in China in the near term, opting instead to license its shows for "modest" revenue. The company said it still hopes to launch service in China "eventually."

[Image Source: Tech Crunch ]

 

Netflix Chief Executive Reed Hastings said, Netflix plans to keep pouring money into building its stable of original and licensed TV shows and movies. Content spending will rise to $6 billion next year, a $1 billion increase from 2016, the company said."We will keep investing in growing the content spend, even domestically, for quite a long time," .

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