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With the streaming wars about to start in earnest, Netflix beat earnings forecasts in the third quarter and narrowly missed its subscriber growth target on a net gain of 6.8m members worldwide.
The streamer beat financial forecasts on $1.47 a share, ahead of the $1.04 Wall Street had predicted, and way ahead of 89 cents one year ago. Revenue was $5.245bn against $5.25bn expected, and operating income doubled to $1bn.
Growth - Markets - Giant - Subscribers - US
Once again, most of the subscriber growth came from international markets, with the streaming giant adding only 0.52m subscribers in the US (less than the 0.8m forecast) but 6.3m in the rest of the world (just ahead of the 6.2m forecast). The overall global growth forecast had been 7m.
Subscriber totals now stand at 60.62m in the US and 97.71m in international markets, for a global total of 158.3m.
Netflix - Whole - Subscribers - Factors - Churn
Netflix is now forecasting that for the whole of 2019 it will have added fewer subscribers than it did in 2018, reflecting factors including “minor elevated churn in response to some price changes, and new forthcoming competition.”
In its letter to shareholders, Netflix acknowledged the impending...
(Excerpt) Read more at: Screen
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