Sunday, 24 March, 2019

Netflix adds seven million subscribers over summer after spring stumble

Netflix shares soar as it announces 6.96m new members Netflix surges on massive subscriber growth
Lora Ball | 17 October, 2018, 21:27

Netflix shares typically fluctuate widely after earnings, and this quarter was no exception.

As suggested by analysts in a Yahoo Finance report, Netflix is quietly gaining its foothold in the Indian market. In July, Netflix said it is "starting to turn the corner" in many Asian countries.

The service added seven million subscribers worldwide from July through September, far above the target of five million set by Netflix's management and exceeding analyst projections.

Netflix plans to spend about US$8 billion on programming this year.

Netflix is planning a new film and television production hub in New Mexico; new research finds that one-third of "gluten-free" foods sold in USA restaurants actually contains trace levels of the substance.

CDC, partners probe 127 polio-like cases in 22 states
Parents should seek medical care immediately if their child develops sudden weakness or loss of muscle tone in the arms and legs. Neurological conditions like it have a variety of causes, such as viruses, environmental toxins and genetic disorders.

Zainab's murderer, rapist Imran hanged in Lahore
Widely circulated on social media with the hashtag #JusticeForZainab later went viral, with many Pakistanis calling for action. The murder had sparked country-wide protests, mounting pressure on the police to start investigation and arrest the culprit.

Packers Tie Things Up on Aaron Rodgers TD to Ty Montgomery
Rodgers figured out the Niners in the end. "He's called great games, and he continues to call great games", Sherman said of Saleh. Despite that, Rodgers is still completing 63% of his passes with 10 touchdown and only one interception.

Analysts pointed to "solid trends" in India, where the success of homegrown shows like Sacred Games and Ghoul have helped raise its profile and hopes for future growth in the developing world's most populous markets. The company also gave an upbeat forecast for the fourth quarter, sending the shares soaring in extended trading.

So long as Netflix is able to keep tapping the debt market and continuously stuffing its product with enticing new shows and films-neither of which is a given, by the way-the likelihood of its subscribers running to another service is probably low. Net income came in at 89 cents per share, beating Wall Street's number by 21 cents a share. Sales grew 34 percent to $4 billion, meeting Wall Street forecasts.

The company added 6.96 million new members in the last three months, a record for the quarter and well ahead of analysts expectations, erasing fears that its growth had slowed.

Netflix revenue in the quarter increased 34% year-on-year to almost $4bn, while profits more than tripled to $403m. Now ranked as the third market with most subscribers after the USA and Brazil, its market share grew more rapidly than either country during the third quarter, the report added. The number of people paying for cable or satellite has fallen in recent years, denting profit at the world's largest media companies and triggering a wave of mergers.

But the company continued to burn through cash to pay for its programming. While most of that still funds shows licensed from other companies, original programs account for a growing share. Disney and AT&T Inc, the parent of Warner Bros. and HBO, are each looking to introduce new services next year - after completing takeovers of other companies worth a combined $160 billion. "The game is on".

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