Netflix earns 1.077 million so far this year, three times more than in 2017

Netflix earns 1.077 million so far this year, three times more than in 2017

San Francisco (USA)Updated:

The provider of movies and series on the internet Netflix earned 1,077.3 million dollars in the first nine months of the year, three times more than in the same period of the previous year, surpassing the analysts' expectations. The US firm obtained a net profit per share between January and September of $ 2.39, compared to the $ 0.84 it achieved in the first nine months of fiscal 2017, when its profits reached 373.4 million.

The turnover of the company based in Los Gatos (California) was in this period in 11,607.5 million dollars, 38% more than the 8,406 million obtained at the end of last September.

As for the result of its third quarter, the company generated 402.8 million net profit, almost 5% more than in the previous period. The value of their shares increased by 0.89 dollars and their turnover reached 3.999 million.

The online entertainment company won 6.96 million users worldwide between July and September (1.09 million of them in the US), and stands at 137.1 million subscribers globally ( 58.46 of which in the US).

In this way, Netflix exceeded analysts' expectations, that had advanced a lower growth in the number of subscribers, and left behind the bad taste of mouth of the previous quarter, when «alone» managed 5 million new customers, below even their own predictions.

The company also said it expects to add 9.4 million new users during the remainder of the year.

"Our wide selection of original programming helped us achieve a solid growth quarter. We are delighted to be making online entertainment grow all over the world, "Netflix said in a letter to its shareholders.

The company also said it is prepared to comply with the new requirements of the European Union (EU), which require content providers such as Netflix to offer a minimum of 30% European production in their catalogs.

Wall Street reacted enthusiastically to the good results of the Californian company, whose shares were revalued by 12% after the gains were known, reaching 387 dollars per share in the electronic operations after the closing of the market.


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