Netflix Gains 2 Million New Members, Sees New Series Driving Growth

Apr 23, 2013  •  Post A Comment

Netflix said Monday it added 2 million new members in the first quarter, prompting its stock to jump 26% in after-hours trading, reports Bloomberg.

Netflix also gave a promising bit of information about its new series, "Hemlock Grove," a science-fiction thriller that debuted April 19. The service said the show was viewed by more members globally in its first weekend than "House of Cards," which has earned positive reviews and generated buzz.

"Long term, we believe the value of our original series in driving acquisition and retention improvements will be borne out as we add more seasons of already popular shows like ‘House of Cards’ and further series," Chief Executive Reed Hastings said in a letter to shareholders, according to the Los Angeles Times.

The company reported revenue of more than $1 billion in the first quarter, up 18% from a year earlier. It also posted a profit of $2.7 million, compared with a loss of $4.6 million in the year-earlier period.

Your Comment

Email (will not be published)