Netflix breaks through 100 million subscribers

Netflix has released its second-quarter 2017 financial results, which showed that its streaming membership grew from 99 million to 104 million.

Netflix’s global subscribers grew by 5.2 million over the last three months , much higher than the forecasted 3.2 million.

“Our Q3 guidance assumes much of this momentum will continue, but we are cognizant of the lessons of prior quarters when we over-forecasted and there was lumpiness in net adds,” Netflix said.

Netflix has aggressively grown its international subscriber base, which now accounts for 50.1% of its total membership base.

“International revenue rose 57% year over year, excluding a $23 million impact from foreign exchange,” Netflix said.

“We are making good progress with our international expansion as improving profitability in our earlier international markets helps fund significant investment in our newer territories,” the company added.

“It’s been twenty years since Netflix was founded and we still thrive on connecting people with great stories. Someday, we hope to entertain everyone,” Netflix said.

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Netflix breaks through 100 million subscribers