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Netflix jumps 8.2% as revenues beat, subscriber count gets jolt
Jul. 17, 2017 4:12 PM ET|By: Jason Aycock, SA News Editor
Netflix (NASDAQ:NFLX) is up 8.2% after hours after posting bullish subscriber numbers for Q2 and strong expectations for the coming quarter, and beat expectations on revenue despite a narrow profit miss.
It posted domestic net adds of 1.07M, well ahead of estimates for adding 633,000 subs. International streaming net adds came to 4.14M vs. an expected 2.63M.
Streaming membership sits at 104M, crossing a symbolic milestone of 100M users, and the company notes it has more international members (at 50.1% of base) than domestic members now.
The company forecasts total net streaming adds of 4.4M in Q3, vs. 3.99M expected. It sees Q3 international adds coming to 3.65M.
It's also guiding to Q3 revenues of $2.96B vs. consensus for $2.876B, and net income (GAAP) of $143M vs. consensus for $101.6M. Netflix expects its first ever annual profit contribution from international operations.
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