Netflix shares surge on positive subscriber news

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"However, given Netflix's longtime leadership and extensive content library, competitors will be hard-pressed to build streaming businesses that can aspire to become market leaders".

The video streaming pioneer shocked Wall Street last quarter by falling short of new subscriber estimates, but Tuesday's figures put its total customer base at 137 million worldwide, two million more than consensus forecasts. The company added 6.96 million overall paid users, topping Wall Street's expectation of 5.15 million additions, and an internal projection of about five million.

Expansion into new program genres like self-produced romantic comedies and unscripted TV, as well as growth in new geographies like India and broader Asia, suggests 2019 could be even better, the analysts added, reiterating their outperform recommendation.

After the incredible success of "Sacred Games", "Ghoul" and prior to that with a movie called "Love Per Square Foot", Netflix Inc has finally revealed its new plan to take on the might of Amazon Prime, Hotstar and Viacom 18's Voot. Diluted earnings per share checked in a $0.89 per share versus $0.29 per share during the same time in 2017.

"We want to assure investors that we have the same high confidence in the underlying economics as our cash investments in the past", Netflix said in its letter. Stock prices immediately rose 11% on the day, while after hours trading steadied the stock back a small amount from the initial jump.

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Netflix will face stiff competition, with Walt Disney, the world's largest entertainment company, looking to launch its own on-demand services next year, as is AT&T, the parent of Warner Bros and HBO. The July letdown sent Netflix stock plunging more than 10 percent, prompting some to speculate that the company may have peaked.

"It'll probably still be the case that they're going to stick to raising debt twice a year", he said.

Netflix is planning a new film and television production hub in New Mexico; new research finds that one-third of "gluten-free" foods sold in US restaurants actually contains trace levels of the substance. That beat analysts' average estimate of 68 cents, according to Refinitiv.

As for earnings, Netflix generated $4 billion compared to the $3 billion it took in a year earlier.

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