Netflix is having a great 2017 and that trend continued in the 3rd quarter. Today Netflix announced their 3rd quarter 2017 results and announced that they added 5.3 million total streaming subscribers.
According to the report in the U.S., Netflix added 850,000 streaming subs, for a total of 52.77 million, and expects to add 1.25 million US subscriber in Q4.
Netflix added 4.45 million international subscribers in 3rd quarter 2017, ending the quarter with 56.48 million international subscribers. Netflix says they expect to add 5.05 million international streaming subs in the 4th quarter.
The good news did not stop with subscribers. Revenues rose 30.3%, to $2.98 billion, and Netflix expects to pull in $3.27 billion in the 4th quarter of 2017. Streaming revenues in the 3rd quarter reached $2.87 billion, up 33.2%.
After this was announced Netflix shares went up $4.37 (2.16%) to $207.05 each in after-hours trading Monday.
“We have a good head start but our job is to improve Netflix as rapidly as possible to please our members by earning their viewing time and to stay ahead of the competition in the decades to come,” Netflix said, and went on to say that it’s in the “early stages of the worldwide, multi-decade transition from linear TV to internet entertainment.”
Source: MultiChannel News
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