Netflix posts impressive earnings as subscriber base jumps by 7 million
Following the close of trading today, Netflix posted its earnings report for the September quarter and easily bested analyst expectations. During the latest quarter, Netflix generated $4 billion in revenue with an EPS of $0.89. Notably, investors on Wall Street were anticipating Netflix's EPS to fall somewhere in the $0.68 range. Not surprisingly, shares of Netflix are up more than 11% in after-hours trading.
Financial metrics aside, the streaming giant did a pretty solid job of adding new subscribers for the quarter. All told, Netflix during the September quarter added nearly 7 billion new subscribers, a figure which also bested estimates on Wall Street. As a point of contrast, Netflix during the same quarter a year-ago added 5.3 million new subscribers. As it stands now, Netflix now boasts upwards of 137 million subscribers across the globe.
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Netflix posts impressive earnings as subscriber base jumps by 7 million originally appeared on BGR.com on Tue, 16 Oct 2018 at 21:03:58 EDT. Please see our terms for use of feeds.