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Netflix shares on track for worst day in five months

Netflix shares on track for worst day in five months”

In the first quarter Netflix was reported to have 98.75 million subscribers but this weekend will finally bring glad tidings for the site. The shares rose less than 1 percent to $147.71 at 8:00 a.m.in NY before the official market open. "I think this is going to increasingly drive numbers".

Worldwide numbers were 3.5 million, compared with a 3.65 million estimate and 3.7 million guidance.

Netflix is on the verge of surpassing 100 million subscribers worldwide, which will be the testimonial of how much the video streaming service has shaped the entertainment landscape since its introduction a decade ago.

The world's biggest paid video service signed 4.95 million new customers last quarter, less than the 5.49 million analysts were expecting. The online streaming giant also confirms that it's made a deal with Sandler to release four more films exclusively with Netflix.

Netflix says the opportunity ahead remains "gigantic" despite a slowdown in subscriber numbers, including global markets.

"From this perspective, the platform will have already reached ~40% of their 2Q guide (+3.2M subs), with growth likely somewhat front end loaded due to the early success of "13 Reasons Why"," wrote Janedis, adding that Netflix's content slate looks strong in the back half of the second quarter, with the return of "House of Cards", "Orange is the New Black" and "Master of None".

"Everybody watches TV and almost everybody has the internet, so I don't see anything that's going to stop Netflix from getting to most people in the United States and then eventually hopefully most people around the world", Hastings said. Revenue will be $2.75 billion, versus Wall Street projections of $2.76 billion. The net profit is estimated at Dollars 66 million, with the operating margin at 4.4 percent.

It said it plans to spend $1 billion on marketing, on top of a $6 billion programming budget, to promote its titles in 2017. Its stock rose $1.90 to $149.15 in Monday's extended trading, even though subscriber growth during the first quarter came in slightly below management forecasts.

"We have high satisfaction and are rapidly growing in Latin America, Europe and North America", the company said in its letter to shareholders.



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