Netflix Announces $2.35B Revenue in Q4, Adds 7M New Subscribers
Netflix has today announced its financial results for Q4 2016, posting earnings of 15 cents per share with $2.48 billion in revenue, up from $1.67 billion during the same period last year, thanks to its 2 million new subscribers in the U.S. and nearly 5 million subscribers internationally (via TechCrunch). Wall Streets expectations for new Netflix subscribers during Q4 were far below that, coming in at 1.38 million and 3.78 million respectively.
The company’s international growth is showing an even stronger performance, in part due to it’s aggressive investment in original content, both domestic and from abroad. And although international audiences may have different tastes or watching patterns, the company said the early results of its efforts are positive, referencing one of its new shows.
“Gratifyingly, our first Brazilian original series 3%, a sci-fi, post-apocalyptic thriller, premiered as one of the most watched originals in Brazil and played well throughout Latin America,” Netflix said today. “Moreover, bucking conventional wisdom, millions of US members have watched the show dubbed and subtitled into English, making 3% the first Portuguese language television show to travel meaningfully beyond Latin America and Portugal.”
At the same time, Netflix has added a number of new series to its catalogs like Luke Cage, The Crown and The OA, all of which were called out in its report as successful new additions. If it keeps bringing in new content, it will surely continue to attract new subscribers at the same pace.