Jan 22, 2018

Netflix hits $100 billion market cap after beating Q4 expectations

(Photo by Chesnot/Getty Images

Netflix blew past investor expectations Monday, adding more subscribers and revenue than forecast and plans to spend more on content than ever before.

Why it matters: It's another reminder for Pay-TV providers and TV networks that the traditional cable bundle can't compete with the power of on-demand.

The numbers also show how much bigger Netflix's subscriber base continues to grow compared to Amazon and Hulu, it's biggest on-demand rivals.

By the numbers, per CNBC:

  • Revenue: $3.29 billion vs. $3.28 billion expected by Thomson Reuters
  • Earnings per share: 41 cents vs. 41 cents expected by Thomson Reuters
  • Total subscription additions: 8.33 million vs. 6.39 million expected by Netflix
  • Domestic subscriber additions: 1.98 million vs 1.29 million expected by StreetAccount
  • International subscriber additions: 6.36 million vs. 5.10 million estimated by StreetAccount

The company says it plans to spend up to $8 billion on content in 2018, up from roughly $7 billion in 2017.

In a twist, the company said it lost $39 million for content that was not released, which although not specified, could possibly be linked to shows and movies put on hold or cancelled due to sexual harassment scandals.

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The Humanity First push for a coronavirus vaccine

Illustration: Aïda Amer/Axios

Policy responses to the global coronavirus crisis have been every-country-for-itself and — in the case of the U.S. and China — tinged with geopolitics.

The flipside: The scientific work underway to understand the virus and develop a vaccine has been globalized on an unprecedented scale.

Go deeperArrow8 mins ago - World

Trump attacks Schumer for impeachment in letter about coronavirus crisis

President Trump briefs reports on April 2. Photo: Win McNamee/Getty Images

President Trump accused Senate Minority Leader Chuck Schumer of being "missing in action" during the coronavirus crisis, writing in a scathing letter on Thursday that Schumer's focus on the "ridiculous impeachment hoax" resulted in New York being ill-prepared for the pandemic.

Why it matters: It's a blistering response to Schumer urging Trump to assign a senior military officer to enforce the Defense Production Act to produce more medical supplies.

World coronavirus updates: Confirmed cases top 1 million

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

Novel coronavirus infections have hit the 1 million mark after "near exponential growth" that's reached "almost every country," World Health Organization Director-General Tedros Adhanom Ghebreyesus said Thursday.

The big picture: The global death toll exceeded 50,000 on Thursday, per Johns Hopkins data. Italy has reported nearly 14,000 deaths. Governments around the world have introduced public health and economic measures to try and curb the impact of the virus.

Go deeperArrowUpdated 50 mins ago - Health