letter to shareholders. "We are constantly improving our service with better personalization, better user-interfaces, better streaming, and more content," Hastings added. "As a result, per-member viewing hours set new records in Q1 and are on track to do so again in Q2, on a year-over-year basis. We launched our service in the U.K. and Ireland in January and are very pleased that, after the first 90 days, we had substantially more members than we had after the first 90 days of Canada or Latin America." The CEO also touched on rivals, saying the biggest long-term competition comes from "TV Everywhere offerings." This includes HBO GO from Time Warner ( TWX) and Streampix from Comcast ( CMCSA), among others. He also cited Amazon ( AMZN) Prime and Hulu Plus as competition. Shares of Netflix finished the regular session lower, off 4% to close at $101.84. Netflix stock plunged in extended-hours trading, down 16.29% to $85.25.