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Netflix Adds 5 Million Subscribers, Doubles Profit

posted by Fnord666 on Wednesday October 18 2017, @09:11AM   Printer-friendly
from the streams-of-cash dept.

Phoenix666 writes:

Netflix said Monday it added some five million new subscribers over the past three months as profits doubled, in a quarterly update that sent shares of the streaming video giant higher.

California-based Netflix ended the third quarter with more than 104 million paid subscribers, with international memberships hitting 52.7 million and overtaking the number of US subscribers.

Net profits meanwhile jumped to $129 million, more than double the figure from the same period a year ago for the video giant known for "House of Cards," "The Crown" and other original shows that are part of its library.

Revenues in the quarter rose 30 percent from a year ago to $2.98 billion, Netflix said.

"We are growing nicely across the world and are on track to exceed $11 billion in revenue in 2017," a letter to shareholders said.

Streaming has entered its profit-maximization period. For audiences, has the bliss point already been passed?

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  • (Score: 2) by Wootery on Wednesday October 18 2017, @10:00AM (5 children)

    by Wootery (2341) on Wednesday October 18 2017, @10:00AM (#583866)

    Err sothe only had 5 milliom subscribers\?

    No, you're conflating profit and revenue.

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  • (Score: 1, Redundant) by c0lo on Wednesday October 18 2017, @10:46AM (4 children)

    by c0lo (156) Subscriber Badge on Wednesday October 18 2017, @10:46AM (#583885) Journal

    No, you're conflating profit and revenue.

    Speaking about conflation
    (that's like inflation, only with confusion instead of, right? - grin- )

    TFS quote:

    California-based Netflix ended the third quarter with more than 104 million paid [sic] subscribers

    Paying subscribers? Paid subscriptions? That is normal, as-expected.

    Paid subscribers [wikipedia.org]?
    I'd like that, thank you, how can I become one?

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    • (Score: 3, Interesting) by takyon on Wednesday October 18 2017, @10:54AM (3 children)

      by takyon (881) <takyonNO@SPAMsoylentnews.org> on Wednesday October 18 2017, @10:54AM (#583887) Journal

      Paid subscribers?
      I'd like that, thank you, how can I become one?

      You need to internalize the lessons of Netflix's House of Cards until you can apply them on the job [thehill.com].

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      • (Score: 2) by c0lo on Wednesday October 18 2017, @11:06AM (2 children)

        by c0lo (156) Subscriber Badge on Wednesday October 18 2017, @11:06AM (#583891) Journal

        Doh... paid in rubles?

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