Strong quarter for Netflix
Netflix brought in more subscribers than expected for the second quarter, signaling robust customer growth for the period that has traditionally been slow for the digital streaming giant.
The company counted close to 104 million subscribers worldwide for the period that ended in June, nearly 2 percent higher than it had forecast.
The results sent shares of the Los Gatos company soaring more than 9 percent in after-hours trading on Monday to $177.30. Shares closed Monday at $161.70, up 58 cents.
The company posted earnings of 15 cents per share, versus the 16 cents per share expected by analysts polled by FactSet. Revenue for the period was $2.79 billion compared with the $2.76 billion estimated by analysts.
Netflix attributed the higher-than-expected subscriber growth to its strong content slate, which included new seasons of popular series including “House of Cards” and “Master of None.” In addition, series like “13 Reasons Why” and “Stranger Things” continued to draw fans.
During the quarter, the company also debuted its first original series from Spain, “Cable Girls,” which it said has attracted “significant” viewership in the U.S. and in Spanish-speaking countries worldwide.
Last week, Netflix scored 91 Emmy nominations, with big showings for “The Crown,” “Stranger Things” and “Unbreakable Kimmy Schmidt.”