Netflix subscriber base was set to exceed 100 million global subscribers soon.
Netflix also provided guidance for the second quarter.
Netflix added almost five million subscribers worldwide in the first quarter of 2017, down from more than seven million subscribers it added the quarter before that. "But Netflix clearly had a vision before those devices became so ubiquitous".
Around 51 million of Netflix's users are from the U.S. By the end of 2017, Piper Jaffray analyst Michael Olson anticipates the bulk of the company's subscribers to be from outside the nation. Worldwide subscriber number was guided to 2.60 million, also ahead of his estimate and the consensus of 1.50 million and 1.48 million, respectively.
Chief executive, Reed Hastings, said: "We have come to see these quarterly variances as mostly noise in the long-term growth trend and adoption of internet TV". The company has done a good progress over the past five years. During which, Netflix has scored 72 million more subscribers.
Based in Los Gatos, California, Netflix now has a market value of approximately $63 billion.
Netflix growth was slower than expected in the first 3 months of this year. All over the world, HBO has around 134 million subscribers and provides the internet-only option. With Amazon earning a big credibility bump for Manchester by the Sea, the biggest way to make up ground on Netflix may be with movies vs. TV. Netflix has a 12 month low of $84.50 and a 12 month high of $148.29.
In another notable item from its Q1 earnings report, Netflix said it will spend more than $1 billion globally this year "marketing our content to drive member acquisition".
Netflix was able to beat earnings expectations, posting earnings of 40 cents per share against the Zacks Consensus Estimate of 38 cents per share. "We definitely have YouTube envy". "At that point, Netflix might disrupt itself again, as it's done throughout its history with innovations such as DVDs by mail, subscription monetization, digital streaming and original content".
Netflix is spending a reported $6 billion on original content for 2017, which sounds like an astronomical figure. Stifel Nicolaus lifted their price objective on Netflix from $140.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, December 21st.