Netflix subscriber numbers and revenue skyrocket

Netflix has surprised the market with better-than-expected results, which were revealed in its latest quarterly earnings report.

Netflix’s global streaming revenue totaled $2.2 billion, of which 40% was generated outside of the United States.

Operating income amounted to $106 million (compared with a $64 million estimate) while net income was $52 million (vs a forecast of $22 million).

“In Q3, we added 0.4 million members in the US vs our forecast of 0.3 million, and 3.2 million members internationally vs our forecast of 2.0 million,” said Netflix.

“Our over-performance against forecast (86.7m total streaming members vs forecast of 85.5m) was driven primarily by stronger-than-expected acquisition due to excitement around Netflix original content.”

The market reacted positively to Netflix’s latest results, and the company’s share price was up 20% in after-hours trading.

Now read: Movie theatres are strangling the movie business: Netflix CEO

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Netflix subscriber numbers and revenue skyrocket