Boosted by the success of its original shows such as "13 Reasons Why", "House of Cards" and "Orange is the New Black", Netflix had beaten subscriber growth expectations in seven out of last 10 quarters.
On top of growth, the company has begun to focus on its profitability. The shares had more than doubled before the sell-off. Analysts polled by FactSet expected Netflix to add 6.2 million subscribers total, with 1.2m coming from the U.S. and 5.01 internationally.
During the quarter, the company added 670,000 domestic streaming subscribers, and 4.47 million worldwide subs.
The stock price doubled in the past year, raising its value to within sight of $200 billion as of Monday's close. "As we head into the rest of 2018, we believe Netflix has a number of growth levers which should fuel the company's next phase of strategic penetration among both USA and especially global consumers despite some softness seen in 2Q", he wrote.
The company called its performance in the second quarter "strong but not stellar".
Still, Netflix ended Q2 with 130.1 million global subs, up 25% year over year, with 56 million in the US and 72.8 million elsewhere.Читайте также: Megan Markle admitted that she misses acting career
Earnings per share came in at 85 cents, beating the 79 cents predicted by analysts surveyed by Thomson Reuters I/B/E/S. Revenue climbed 6 percent to $3.9 billion. Netflix has borrowed money repeatedly to pay for its programming, and expects to spend between $3 billion and $4 billion more in cash than it will generate in 2018. The 112 Netflix nominations include five best series and best limited series nominations and are spread across 40 different scripted and unscripted series, TV movies, limited series, documentaries, talk shows, comedy specials and series for kids.
Hastings said the company would make adjustments to account for foreign exchange rates in order to "steadily" increase operating margins.
Netflix in its letter to shareholders acknowledged that it expects to face more competition going forward, including from AT&T, which now owns HBO, Warner Bros. and CNN. That erased roughly $25 billion from the company's market valuation.
Walt Disney is hoping to close on a deal to buy prized entertainment franchises from 21st Century Fox to feed into a video streaming service Disney will debut next year.
Netflix cited an array of competitors, starting with YouTube.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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