Internet TV service Netflix added a lot more subscribers than expected over the last quarter, causing shares to rise 11.6% in after-hours trading.
Net subscriber additions rose 22% to 4.88 million in the March quarter, beating the company’s 4.05 million forecast. Meanwhile, internationally Netflix added 2.6 million customers, bringing the total to 62.27 million users.
In a webcast announcing the results, Netflix CEO Reed Hastings credited a consistent focus on improving content, streaming quality and the Netflix UI for the impressive results. Netflix says it expects to sign up 600,000 more US customers in the present quarter, and another 2.5 million worldwide, which would take its sub base to the brink of a remarkable 65 million.
This year’s TV Connect (28th – 30th April 2015 ExCel, London) sees Xavier Amatrain, Research and Engineering Director, Netflix, delivering a special keynote, while BT’s Jerome Tassel will be asking ‘Who Can Push Netflix into Check?’ Click here to download the brochure.