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Netflix now has 57.4 million subscribers, plans to add 4 million more next quarter

Netflix now has 57.4 million subscribers, plans to add 4 million more next quarter

netflix

netflix

Image Credit: Marit & Toomas Hinnosaar

Today Netflix released its fourth quarter numbers, revealing non GAAP earnings per share (EPS) of $0.72 and 4.33 million new subscribers. Analysts estimated earnings of $0.45 per share.

The video distributor reported $1.3 billion in revenue, compared to analyst expectations of $1.49 billion.

Meanwhile, Netflix stock is up slightly, closing at $348.80 per share. Last quarter stock dropped 25 percent in after-hours trading despite its modest growth. At the time, investors were largely unhappy with Netflix’s subscriber numbers.

This quarter the company has succeeded to meet its own target of 57 million subscribers.

netflix subscribers

netflix subscribers

Netflix likes to tout the merits of its exclusive content. Last week, Kevin Spacey won a golden globe for his performance as Frank in the Netflix original series House of Cards. However, Netflix isn’t the only video streaming service to receive accolades. Jeffrey Tambor won a golden globe for his role in Amazon’s Transparent this year. And Amazon Prime is not Netflix’s only competition. Long time original film and television series provider HBO is launching its own web-based content sharing services and Overstock.com just announced it too will begin offering original online content.

And both Overstock and Amazon can afford to lose money on its investment in media, since the majority of revenue for both companies comes from selling goods.

But it will take more than just a hot original series to beat the competition. Netflix needs to show meaningful growth, or else see backlash from investors like it did last quarter.

If after hours trading is any indication, investors are pleased. Netflix is currently trading at $398 per share and rising.

With more than 25 million members in the United States, Canada and Latin America, Netflix, Inc. [Nasdaq: NFLX] is the world’s leading Internet subscription service for enjoying movies and TV shows. For US$7.99 a month, Netflix members … read more »

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