Netflix Adds 9.6M New Subscribers In Q1; Recording Highest Paid Net Adds To Date But Stock Down

  • Deadline
Netflix revealed today in its first quarter earnings report that it has recorded its highest quarterly paid net adds in its history with 9.6 million new subscribers.

Despite the healthy Q1 results, the stock down over 4% in after hours trading on a historic trading day. A lot of that comes from the billions in debt Netflix is carrying and the lower than estimated guidance for Q2 and going forward.

Coming after a recent price hike and with looming competition, the Q1 results were well above the 8.9 million net additional paid subscribers that the Svod service had projected itself earlier. All of which means that Netflix has 148.9 million subscribers overall. The growth breaks down as 1.74 million new subs in the Us and 7.86 million internationally.

That exceeds the 8.9 million net additional paid subscribers around the world, reaching 148.2 million overall, that Netflix itself had projected. That would be an 8% gain over the same quarter
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