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Netflix has released its latest subscriber numbers for Q1 2017, which showed growth of 1.42 million US subs and 3.53 million international. This 4.95 million total is good, but it falls short of Netflix’s own projections for the first quarter of 5.2 million.
The failure to deliver hit Netflix’s share price which initially fell 3 per cent in after-hours trading but speedily recovered to finish the day at $147.25 a share.
The market was buoyed by the overall total, of 98.75 million subscribers globally, and the company’s statement which said this coming weekend would see it cross the 100 million subs base. “We remain incredibly excited about the opportunity in front of us to build a truly global and durable internet TV business,” Netflix said in a letter to its shareholders.
Another key indicator of the true might of Netflix is its revenues, of $2.64 billion (€2.48) for Q1.