The company estimates it will add 6.20 million subscribers during its second quarter.
The Netflix logo is pictured on a television in this illustration photograph taken in Encinitas, California, U.S., January 18, 2017. The performance surpassed analyst projections of 6.5 million new subscribers, which helped lift Netflix's stock by more than 6 percent in extended trading.
Shares of Netflix closed Monday at $307.78, with a consensus analyst price target of $286.62 and a 52-week range of $138.66 to $333.98. The stock is the top performer on the S&P 500 this year, gaining more than 60 percent. There are consensus estimates calling for $0.64 in EPS on $3.69 billion in revenue. In the last 90 days, insiders sold 445,545 shares of company stock valued at $120,523,106.
Wall Street expected Netflix to add 6.5 million new subscribers, according to FactSet data.More news: Active Volume Stock: JPMorgan Chase & Co. (NYSE:JPM)
Netflix plans to spend as much as $8 billion United States dollars in 2018 to boost its original TV and movie library, up $2 billion compared to previous year. Traders accepted free income in exchange for the potential for growth in the future years, as it's enlarged to some 190 countries. The cost of a Netflix membership climbed 14 percent during the moment, and customer ranks increased to 125 million.
The company said it still expects to spend up to $US8 billion on content this year.
In the initial few weeks of this year, Netflix encouraged original programing by 85 percent to a list 483 hours from a year earlier, according to Co & Cowen analysts. In the first quarter it debuted "Altered Carbon" and "The End of the F***ing World", in addition to returning seasons of "Marvel's Jessica Jones" and "Grace and Frankie".
"Subscribers are accelerating even at higher pricing", BTIG analyst Richard Greenfield said. It released the Spanish-language heist drama La Casa de Papel (Money Heist, in English) during the period, and said it became the most watched non-English original series on the platform.More news: Kovac to succeed Heynckes as Bayern Munich coach
Netflix keeps raising the bar. The firm has a market capitalization of $62.15 billion, a PE ratio of 335.79 and a beta of 1.27.
Netflix late this afternoon released its earnings report for the March quarter and the streaming giant delivered yet again.
However, it faces rivalry as tech companies like Apple and Amazon pour funds to streaming global rivals jump and customers that are digital are pursued by media organizations.
Spotify's music-streaming service has emerged as the most celebrated of the aspiring clones, despite significant challenges that will make it hard to keep growing at the same pace as Netflix has been in video streaming. It appears mostly bullish, as TipRanks analytics demonstrate NFLX as a Buy. The company continued to see some pretty strong streaming revenue growth, which was up around 43% year-over-year in the first quarter this year, to around $3.6 billion. That's the fastest pace for a quarterly revenue increase in Netflix's history, the company said, and it came despite a price hike in the first quarter.More news: Brad Stevens on how Celtics will keep Bucks' Giannis Antetokounmpo in check