Reed Hastings and company beat expectations. Wall Street is getting used to this.

Netflix stock is climbing again after the streaming company beat expectations expectations, by adding 7.41 million subscribers during Q1. Netflix had told Wall Street it thought it would add 6.35 million in the quarter.

Netflix had told investors it thought it would add 1.45 million domestic subs in Q1 and another 4.9 million outside the U.S. Instead it added 1.96 million and 5.46 million.

Netflix told investors that it would add 1.2 million domestic subs in Q2 and another five 5 million outside the U.S.; per RBC analyst Mark Mahaney, Wall Street had expected to see guidance of 974,000 and 4.2 million, respectively.

Netflix shares, which have already climbed 60 percent this year, are up another 6 percent in after-hours trading.

In the past, the quarterly shareholder letter Netflix puts out would have lots of interesting ideas and numbers. This one seems more straightforward: Netflix is growing, fast — its Q1 revenue grew 43 percent, the fastest rate the company has seen since moved into streaming — and it thinks that is going to keep growing fast.

CEO Reed Hastings uses his letter to note that Netflix has many popular TV shows (no viewership numbers to quantify that, per usual)

after hours trading. More to come.

Netflix added more than seven million subscribers during Q1, and its shares are climbing — again
By Peter Kafka

April 16, 2018 at 01:20PM
via Recode – Front Page https://www.recode.net/2018/4/16/17243676/nflx-netflix-reed-hastings-q4-earnings-stock-subscribers