netflix lifted by beautiful quarterly report
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

Netflix lifted by 'beautiful' quarterly report

Arab Today, arab today

Arab Today, arab today Netflix lifted by 'beautiful' quarterly report

Netflix shares raced higher in after-hours trade Monday as the streaming television giant reported better-
San Francisco - Arab Today

Netflix shares raced higher in after-hours trade Monday as the streaming television giant reported better-than-expected gains in its global subscriber base and a quarterly profit that nearly tripled from a year ago.

Netflix has been on a tear with original programs such including "The Crown" and "Stranger Things."

Netflix shares hit a record high during the trading day, with a leap after the earnings release lifting the California-based company's overall value above $100 billion for the first time.

In its fourth quarter report, Netflix said it added 8.3 million new subscribers to bring its total paid membership base to 110.6 million.

Net profit in the quarter surged to $186 million from $67 million a year earlier as the leader in streaming video saw growth ramp up in many parts of the world. Revenue for the quarter rose 33 percent to $3.3 billion.

"We had a beautiful Q4, completing a great year as internet TV expands globally," said a Netflix letter to shareholders with the quarterly report.

"In 2017, we grew streaming revenue 36 percent to over $11 billion, added 24 million new memberships (compared to 19 million in 2016), achieved for the first time a full-year positive international contribution profit and more than doubled global operating income."

As it has shifted more to original content, Netflix has been winning awards for its shows and has helped shake up both the television and film industries with its deep pockets.

By delivering online, Netflix is available in some 200 markets worldwide, with the goal of being a global TV network, and now produces programs in several languages.

Netflix said it expects to spend between $7.5 billion and $8 billion on content for 2018.

"We believe our big investments in content are paying off," the statement said.

"In 2017, average streaming hours per membership grew by nine percent year-over-year."

During an "interview" style earnings call -- a change of pace for Netflix -- chief executive Reed Hastings and other executives were heavily questioned about how spending on shows weighs on profit.

"We are choosing a business strategy that essentially has us take all of our domestic profit and put it into international expansion," Hastings said.

"We think that is the right move, but it definitely takes a strong stomach on the part of investors."

He noted that Netflix is "very comfortable" with its current subscription price as well as its tactic of putting global expansion over short-term profit.

"Our content is getting better; our service is getting better," Hastings said.

"Of course, the larger we get the harder it is to grow, and the more time that goes by the better our competitors get

Source: AFP

arabstoday
arabstoday

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 lifted by beautiful quarterly report netflix lifted by beautiful quarterly report

 



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 lifted by beautiful quarterly report netflix lifted by beautiful quarterly report

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 17:56 2017 Sunday ,05 March

Will Smith visits Egypt with his family

GMT 11:52 2017 Saturday ,04 March

Blames Russia for not restoring flights

GMT 02:25 2016 Thursday ,22 December

Jordan's King meets US Army Chief

GMT 08:38 2017 Tuesday ,14 February

Engine maker Rolls-Royce logs record loss of £4.0bn

GMT 10:33 2016 Friday ,19 August

Metallica planning first album in 8 years

GMT 00:00 2017 Saturday ,14 January

Daou Jewelry’s sparkling revival

GMT 04:26 2017 Monday ,01 May

Bella apologizes for Fyre fiasco

GMT 14:16 2017 Friday ,20 January

'Proud to cooperate with the chief 'Adel Emam'

GMT 12:29 2018 Thursday ,15 November

Dubai Tourism to inaugurate ‘HITEC Dubai 2018’

GMT 17:51 2018 Saturday ,22 September

Balochistan Assembly Speaker calls on PM

GMT 20:54 2018 Monday ,01 January

Menna Fadali happy for “Forbidden Love”

GMT 23:58 2017 Saturday ,16 December

Japan unveils 500 kmph 'levitating' bullet train

GMT 01:20 2016 Monday ,05 December

Muscat Stock Index Gains 19.86 Points

GMT 04:43 2017 Wednesday ,14 June

Schaeuble urges ECB to change monetary policy soon

GMT 23:11 2016 Wednesday ,05 October

Cairo plays important role in hosting refugees

GMT 21:17 2017 Wednesday ,05 July

CBE hits record of $1.1bn garnered in 2 days
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday