Netflix adds 5 million more customers as share price hits all-time high
Netflix has had another stellar quarter, beating analyst expectations with nearly $3 billion in revenue and over 5 million new subscribers. The bulk of those new customers came from outside the US: Just 850,000 new additions came from within the States, while there were 4.45 million new international subscribers.
However, Netflix once again had to borrow to make the machine work. The ever-rising cost of producing original content means that Netflix is hard-pushed for cash, explaining the recent price hike in the US. Analysts expect that price hike to hit international subscribers later this year or early next, as well.
Trending right now: