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Netflix added 9.6M subscribers in Q1, with revenue of $4.5B

Netflix just released its earnings letter for the first quarter of 2019. The company says it saw growth of 9.6 million paying subscribers, up 16 percent year-over-year.
That’s significantly ahead of the 8.9 million new subscribers that analysts had predicted. On the financial side, the quarter came in right at expectations, with revenue of $4.5 billion and earnings per share of 76 cents.
Netflix says it now has 148.9 million paid streaming memberships. Most of this growth (7.9 million of the net additions in Q1) is happening internationally.
Things aren’t looking quite as strong in Q2, with Netflix forecasting 5 million net additions, which would be 8 percent lower than growth during the same period in 2018.
As of 4:36pm Eastern, Netflix shares are down about 1.8 percent in after-hours trading, presumably in response to that Q2 forecast.
This comes as Netflix is rolling out significant price hikes in the United States, Brazil, Mexico and parts of Europe.
“The response in the US so far is as we expected and is tracking similarly to what we saw in Canada following our Q4’18 increase, where our gross additions are unaffected, and we see some modest short-term churn effect as members consent to the price change,” the company says.

Netflix adds 8.8M paid subscribers globally, says it now accounts for 10 percent of US TV screen time
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