(FinancialPress) – Netflix is ahead in the running for the Hollywood, Silicon Valley, and Wall Street throne. And it looks like it will take them all at the same time.
Just this year, Netflix’s stock (NFLX) rose a staggering 60% – edging out its FANG peers in Facebook, Apple, Amazon and Google’s parent company Alphabet.
The company’s Q1 earnings were released this Monday, and they are, quite simply, crushing it. Revenue was in line with Wall Street expectations and subscriber growth outdid NFLX’s own forecasts.
Its subscriber base grew by a most imperssive 7.41 million users worldwide. This signals it outperformed both its own internal national and global forecasts. It also sets a landmark as the largest user growth in a first quarter since the company’s inception.
Earnings were solid as well in the quarter, reaching $3.7 billion in revenue. The number was in line with the market’s and the company’s own forecasts.
Subscriber growth can be attributed to the continuous stream of quality content that the platform has been adding, such as David Letterman’s talkshow, a new season of its own Jessica Jones and the new hit series Altered Carbon.
Netflix itself credits its “wide variety of formats” that cater to “diverse tastes” of subscribers for the sustained, strong growth in its paying userbase.
The streaming service is also looking to bolster its proprietary production, with a heavier push in the movie sector. It plans to release 80 feature films over the current calendar year.
The company’s subscriber growth guidance is sure to make investors smile as well. Netflix users in the US are forecasted to grow by 5 million by the end of Q2. Internationally, Netflix expects to secure 1.2 million new users. Wall Street is more conservative in its expectations, although not by much. Analysts expect US users to grow by 3.87 million and international ones to reach 963.000/