As part of its first-quarter earnings report Monday, Netflix responded to investor questions about Amazon's purchase of streaming rights for National Football League games next season. The firm earned $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion.
Netflix said it still expected to add 8.15 million new members in total for the first half of the year, just below the 8.42 it added in the first half of last year. Because of this change in timing, Netflix guided for strong subscriber adds in the second quarter, including 850,000 domestic adds and 2.8 million global adds, both of which were higher than Graham's previous estimate.
Customer numbers outside of the U.S. hit 47.9 million but growth slowed to 3.5 million net additions, down from 5.1 million in the previous quarter.
Moving the release of House of Cards season 5 to the second quarter has affected Netflix subscriber numbers in Q1. While Wall Street estimated to add 364,000 in the US and 2 million internationally.
Sequentially U.S. subscription additions of 1.42 million was far below fourth-quarter additions of 1.93 million and even further below additions of 2.23 million in the first quarter of a year ago.
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Breaking that total down, the OTT video market leader picked up 1.42 million subscribers in the USA and the other 3.53 million customers internationally, raising its totals in those regions to 50.85 million and 47.89 million, respectively. The net profit is estimated at Dollars 66 million, with the operating margin at 4.4 percent.
The company described the opportunity provided by the growth of the global internet is "gigantic" and said it plans to keep investing as it increases membership, revenue and operating margins.
As it is, Netflix expects to spend about $6 billion on programming this year.
"We have high satisfaction and are rapidly growing in Latin America, Europe and North America", the company said in its letter to shareholders. "We are making good strides in improving our content offering to match local tastes in Asia, Middle East, and Africa, but have much progress to make, like in Latin America a few years ago".