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Netflix posts strong customer growth in Q1, sees slow Q2
2016-04-19 08:32:00| Telecompaper Headlines
(Telecompaper) Netflix announced first-quarter results better than expected but gave a cautious outlook for the second quarter. The company added 2.30 million new streaming customers in the US and 4.51 million at its international activities, beating its own guidance of respectively 1.75 million and 4.35 million. The total number of streaming subscribers reached 47.0 million in the US and 34.5 million elsewhere, while the company also still had 4.7 million DVD rental customers. Revenues increased 24 percent to USD 1.96 billion in Q1, with growth of 17 percent in the US and 57 percent at the international business. EBITDA fell by 23 percent, and operating profit nearly halved to USD 49 million due to the costs of international expansion. Net profit was still slightly higher due to a gain. After negative cash flow of USD 261 million, Netflix ended the period with USD 1.6 billion in cash.
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Category:Telecommunications
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