Netflix Gains 7.4 Million Subscribers in 3 Months

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"We also believe Netflix should kick off what we expect will be a strong earnings season over the coming weeks for tech and FANG names in particular", the analyst concluded. The jump in revenue was due to a 25% increase in average paid streaming memberships and a 14% rise in ASP. The Q2 operating margin is expected to be 12%.

Netflix executives reportedly credit the awesome quarterly performance to the carefully planned timing of spending on new content.

Netflix's (NASDAQ:NFLX) stock climbed almost 6% in after-hours trading Monday, as the company posted its first quarter results, which were better than expected due to strong growth in subscribers. Overall, the company hit 125 million members in Q1.

For Q2 Netflix expects 6.2 million global net additions (1.2m in the USA and 5.0m for the worldwide segment) vs. 5.2 million in the year ago quarter. While several leading tech companies have stumbled this year amid regulatory concerns, Netflix stock has soared 60% on optimism for its original content strategy. Unlike Facebook, which at one point allowed app developers to download data it had collected about its users, Netflix has placed a premium on protecting the information it has on its customers' viewing habits, he said.

Total streaming content obligations grew to $17.9 billion in the first quarter, from $17.7 billion three months earlier, and that doesn't account for the ballooning budget to market shows.

Netflix says it will spend up to $8 billion on global TV shows and movies in 2018.

The slate included science fiction series "Altered Carbon", Marvel action drama "Jessica Jones". Earnings per share rose 59% to 64 cents, matching expectations.


"We regret our films not being able to compete at this year's Cannes film festival", read the letter to stockholders.

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"Our movement to news has been misreported over and over again", Sarandos said. "We are continuing to invest in content, marketing, product, all the things we've been doing", Hastings said. "Topical interview shows, absolutely, but keep in mind, those are entertainment".

Netflix's spending priorities are more typical of a media company than a technology one, according to CEO Reed Hastings.

In a quarterly letter to shareholders, Netflix said it will "continue to raise debt as needed to fund our increase in original content", adding that its debt levels were "quite modest as a percentage of our enterprise value".

At the same time, Netflix is expanding into cable bundles and recently announced a new offering with Comcast, in addition to bundles with Sky, T-Mobile and Altice. Yet, the company's subscriber growth continues to be trending in the right direction. Executives said on a conference call that the "new wave" of operator partnerships was a consistent shift across all geographic markets. "That being said, we do see M&A as a perfectly fine tool for us to help find interesting assets that help us grow the business".

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