Netflix beats expectations on profit and subscribers

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Netflix News

Netflix Profits

SAN FRANCISCO, April 19 ― Netflix topped earnings expectations yesterday, reporting that profit and subscriber ranks grew as its heavy bet on a rich content line-up paid off...

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Netflix reported a profit of US$2.3 billion on revenue of nearly US$9.4 billion in the quarter, compared to a net income of US$1.3 billion on US$8.2 billion in revenue in the same period a year earlier.“Netflix continues to lay the smackdown on its competition,” said Emarketer senior analyst Ross Benes.

The company launched an ad-subsidised offering last year around the same time as the crackdown on sharing passwords outside of homes. Britain's Prince Harry and his actress wife Meghan Markle are working on two nonfiction series with Netflix ― a lifestyle programme and a show on professional polo, their production company announced earlier this month.

Netflix Profits

 

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