netflix adds 5 mn subscribers doubles profit
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Netflix adds 5 mn subscribers, doubles profit

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleNetflix adds 5 mn subscribers, doubles profit

Shares in the company jumped 1.7 percent in after-hours trade on the stronger-than-expected results.
California - Muslimchronicle

Netflix said Monday it added some five million new subscribers over the past three months as profits doubled, in a quarterly update that sent shares of the streaming video giant higher.

California-based Netflix ended the third quarter with more than 104 million paid subscribers, with international memberships hitting 52.7 million and overtaking the number of US subscribers.
Net profits meanwhile jumped to $129 million, more than double the figure from the same period a year ago for the video giant known for "House of Cards," "The Crown" and other original shows that are part of its library.
Revenues in the quarter rose 30 percent from a year ago to $2.98 billion, Netflix said.
"We are growing nicely across the world and are on track to exceed $11 billion in revenue in 2017," a letter to shareholders said.
"Internet entertainment is delighting consumers, and we are staying at the forefront of this once-in-a-generation opportunity."
Netflix has been aggressively expanding around the world, and is now present in some 190 markets, making it the leading service for streaming or on-demand television.
Shares in the company jumped 1.7 percent in after-hours trade on the stronger-than-expected results.
Earlier this month Netflix said it was increasing prices for customers in the US and parts of Europe to help fuel investments in original shows and boost expansion.
"We spend disproportionately in the US to generate media and influencer awareness for our programming which we believe, in turn, is an effective way to facilitate word of mouth globally," Netflix's letter said.
"In our international segment, we are on track to generate positive contribution profit for the full year. As we move into 2018, we aim to achieve steady improvement in international profitability and a growing operating margin as our success in many large markets helps fund investments throughout Asia and the rest of the world."
Netflix said it remains aware of the competition in the segment and noted that new streaming options are available or in the works from CBS, Disney and others.
"Since 2013, we've taken the long term view that we're in the early stages of the worldwide, multi-decade transition from linear TV to internet entertainment," the statement said.
"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."

Source:AFP

 

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

netflix adds 5 mn subscribers doubles profit netflix adds 5 mn subscribers doubles profit

 



Themuslimchronicle, themuslimchronicle

GMT 18:58 2016 Friday ,08 April

Cypriot parliament speaker to visit Egypt Sunday

GMT 11:43 2017 Thursday ,21 September

More than 100 migrants missing after shipwreck off Libya

GMT 12:03 2017 Thursday ,19 January

Dollar climbs on Yellen speech, Asia traders eye Trump

GMT 12:50 2017 Friday ,15 September

Fati Jamali received offer to participate

GMT 08:56 2017 Wednesday ,15 November

Nadal pullout leaves Federer as last man standing

GMT 08:10 2016 Wednesday ,28 December

Germany cancels show of Iran shah's art trove

GMT 12:57 2017 Friday ,11 August

Military option with N. Korea 'locked and loaded

GMT 10:38 2018 Tuesday ,23 January

Al-Sabah, Nawal win Arab Woman Award 2017

GMT 13:30 2016 Thursday ,03 November

Chicago jubilant after Cubs' historic World Series win

GMT 20:23 2018 Thursday ,18 January

UK, France agree new border security treaty

GMT 10:07 2017 Tuesday ,01 August

Pakistan's parliament set to vote for interim PM
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle