Netflix Beats on Earnings, But Miss on Subscribers
Analysts were expecting Netflix to add 5.27 million new subscribers this quarter and another 2.45 million in the second quarter.
Netflix (NFLX) - Get Report reported first quarter earnings of 40 cents per share on revenue of $2.64 billion vs. analysts' expectations of earnings of 37 cents per share on revenue of $2.64 billion. However for the second quarter, the company expects to earn 15 cents per share vs. analysts' 24 cent per share expectations.
The company reported that international net subscriptions fell 22% year over year. Overall the company added 4.95 million subscribers, while forecasting second quarter added subscriptions of 3.2 million.
Analysts were expecting Netflix to add 5.27 million new subscribers this quarter and another 2.45 million in the second quarter.
