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Netflix adds 13 mln subs in 2014, plans global expansion
2015-01-21 08:48:00| Telecompaper Headlines
(Telecompaper) Netflix announced plans to accelerate its international expansion, after adding 13 million new customers in the past year. The company reported growth in the fourth quarter ahead of its outlook, adding 4.33 million new streaming customers for a total 57.39 million. Netflix said it's now profitable in its first markets launched outside the US. It will expand to Australia and Zew Zealand by March and more countries by the end of this year. Already available in 50 countries, Netflix aims to grow to around 200 markets worldwide by 2017, including China. The international expansion and investments in content led to negative free cash flow of USD 78 million in Q4. Netflix still had USD 1.6 billion in cash at year-end and said it aims to raise around USD 1 billion this year in a debt offering. The company's operating profit fell to USD 65 million in Q4 from USD 82 million a year earlier, while net profit rose to USD 83 million from USD 48 million, helped by a one-time tax gain of USD 39 million.
Tags: global
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Category:Telecommunications