It is the time of year when companies' financial reports come in, and the most recent to dish out its numbers was Netflix, which has had a positive experience across the board. In addition to beating out most expectations analysts had for its third quarter, the video streaming service has achieved a new milestone, hitting and exceeding the 30 million overall domestic subscribers mark.
During Netflix's last quarter, the Internet video service saw a subscriber increase in the US of 1.3 million users, while international users jumped even higher at 1.4 million new subscribers. Though the company's top executives have down-played the increase, Netflix saw its stock numbers increase by approximately 10-percent following its Q3 revelations.
Said Netflix's CEO and CFO Reed Hastings and David Wells, "We do our best to ignore the volatility in our stock." Instead, the bigger subscribers number tells a more stable story, namely that annually the video streaming service sees steady growth. In light of the top-notch numbers and clocking in at the high-end of its own anticipated results, the company has increased its outlook for the next quarter.
In 2014, Netflix is estimating that the total number of subscribers in the US would rise to between 32.7 million and 33.5 million, while international users are expected to hit more than 10 million in total. The company's CEO also spoke briefly about Netflix's own series Orange is the New Black, saying that it will wrap up 2013 as the company's most-watched original series of all time.
SOURCE: New York Times