Netflix Continuing its Growth

After investing $7 billion into new content, Netflix is seeing its investments pay off. In its 3rd quarter results, Netflix has announced that they added 5.3 million to their total number of subscribers.

In America alone, the streaming giant gained 850,000 new subscribers, bringing the total number to 52.77 million. In the next quarter, Netflix expects to add 1.25 million more domestically.

 

Internationally, the home of Orange is the New Black added 4.45 million subscribers this past quarter, making their international total reach 56.48 million people.

The next quarter, the company expects to add even more, to the tune of 5.05 million.

With their slight price increase, Netflix saw their revenue rise 30.3% to $2.98 billion. Next quarter, the company plans to bring in an additional $3.27 billion in revenue.

All of this news made for a good day on the stock market for Netflix, as their shares increased $4.37 or 2.16% at a final price of $207.05 during after-hours trading on Monday.

 

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