Moscow, 17 APR — “News. Economy” In the first quarter of 2019, the company attracted a record number of new subscribers.
Photo: FILIP SINGER/ EPA
A record number of users connected to the Netflix service on a paid basis in the first quarter of 2019. In just 3 months the company was at 9.6 million more paid subscribers.
The streaming service earned during this period $ 344 million earnings per share was $0,76. A year earlier, the figure was $0,64. Revenue for the quarter was $4.5 billion versus $3.7 billion for the same period last year. “Starting the year with over nine and a half million subscribers — that’s phenomenal,” said Netflix founder reed Hastings.
However, the company forecast for the second quarter was weaker than expected profit and new subscribers. Netflix expects profit in the second quarter to $0.55 per share, while a year earlier profit for the same period amounted to $0,85. The forecast also does not justify the expectations of analysts, who spoke about the $0.99 per share. Publication of the forecast sent shares of Netflix down: the paper has lost more than 5%. By the end of the extended session losses amounted to 0.8%.
On average, analysts expect Netflix profit of $0,58 per share in the first quarter with sales volume of $4.5 billion Analysts predicted 8,06 million new paid subscribers Netflix vs an expected 8.9 million While the number of subscribers plays to investors a greater role than financial results, it’s especially important in the conditions of constantly growing competition.
Report Netflix came on the background of two high-profile debuts: the launch of streaming services from Apple and Walt Disney. And the company talked about the fact that the fight is directly between the services. However later the Netflix noted that the scope of activity of several companies is still there, as more and more people refuse from conventional television and the emergence of two new players does not change much.
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