Netflix announced the results of its first fiscal quarter and has satisfied its investors. The company announced that the number of subscribers to its video streaming service has increased by 3 million, to the delight of shareholders.
After the results were announced, the company’s NASDAQ roles soared. The company closed the day with its shares being traded at $ 174.37, with a considerable increase of 6%. However, after the announcement, during the after-hours, the value rose by about 24%, exceeding the $ 216 mark.
With this result, Netflix now has 36 million users, responsible for watching 4 billion hours of content during the first quarter. Revenues exceeded US $ 1 billion, more than analysts had predicted, which contributed greatly to the rise in the company’s shares.
In a letter to shareholders, CEO Reed Hastings, together with the CFO, credited the exclusive “House of Cards” series for the “buzz” generated on social media. Other exclusive series are on the way as the fourth season of “Arrested Development” and “Derek”.
Streaming stock Exchange Netflix result