Apr 16, 2018 - Technology

Netflix beats estimates with strong Q1 earnings

Photo by Ted Soqui/Corbis via Getty Images

Netflix stock was up over 7% in after-hours trading Monday, after the company announced that it beat Wall Street expectations for user growth and revenue, yet again. The company added 7.41 million new subscribers, compared to 6.4 million expected.

Why it matters: A strong Q4 had analysts and investors worried that the streaming giant wouldn't be able to recreate its blockbuster success, especially given that current competitors, like Amazon and Hulu, continue to grow while potential competitors, like Disney, are preparing to build rival services.

By the numbers:

  • Revenue: $3.7 billion vs. $3.69 billion expected by Thomson Reuters.
  • Earnings per share: 67 cents vs. 64 cents expected by Thomson Reuters.
  • Total subscription additions: 7.41 million vs. 6.4 million expected by Netflix.
  • Domestic subscriber additions: 1.95 million vs. 1.5 million expected by analysts.
  • International subscriber additions: 5.46 million vs. 5 million expected by analysts.

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The big picture: The number of coronavirus cases increased in the vast majority of states over the last week, and decreased in only two states plus the District of Columbia, Axios' Andrew Withershoop and Caitlin Owens report.

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In photos: America celebrates July 4 during global pandemic

Photo: Francine Orr/Los Angeles Times/Getty Images

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The state of play: Axios' Stef Kight writes public parades and fireworks displays around much of the country are being canceled to prevent mass gatherings where the virus could spread. Hot-dog contests and concerts will play to empty stands and virtual audiences — all while American pride treads an all-time low.

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