Netflix posts huge gains as subscriber growth soars

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The stronger than expected growth - a record for the third quarter - sent shares up 11% in after-hours trading. It is now the world's largest streaming video service, and at a valuation of about $148 billion, one of...

Netflix is behind shows such as The Crown and Orange Is The New Black.

In the United States, where Netflix can now claim nearly half of households as users, the company expects to add 1.8 million new customers this quarter, bringing the domestic total to 60.3 million.

"If you've got five to 10 years more growth in your current market, you're probably optimizing value to stay in your current market and strengthen", said Reed.

The future is looking even brighter for Netflix as the video streaming outfit forecast paid net additions of 7.6 million and total net additions of 9.4 million, up 15 percent and 13 percent compared to the 6.6 million and 8.3 million from the year-ago quarter.

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Netflix closed the quarter with 137.1 million subscribers worldwide, driven by impressive global and domestic growth.

Netflix is investing more than $8bn in entertainment programming this year to lure new customers around the world.

Netflix never shares any actual viewing metrics for single titles, but the company gave us another indicator for the success of "To All the Boys I've Loved Before" in the form of Instagram data Tuesday.

Jim Nail, analyst at Forrester Research, said the latest figures suggested that the second quarter result had been an "aberration, likely the results of a somewhat low volume of new content". Netflix added 5.15 million subscribers in the second quarter of 2018, missing management's original forecast for 6.2 million. The slate included new seasons of the drama Ozark and the animated comedy BoJack Horseman, ' as well as the company's first Indian original series, Sacred Games' and Ghoul. Sales jumped 34% to $4 billion and worldwide streaming revenues jumped 49% to $1.97 billion with revenues in the United States increased 25% to $1.94 billion. The four make up the so-called FANG group of high-growth companies that in recent months has lost some of its momentum following market-leading gains in recent years. Wall Street analysts had expected Netflix to add about 5.2 million streaming customers in the quarter. While most of that still funds shows licensed from other companies, original programs account for a growing share.

At the same time it faces competition from the likes of Amazon and Disney.

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