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Netflix beats subscriber expectations for Q1

Streamer added 7.41 million subscribers globally

Netflix has exceeded its own expectations in terms of new subscribers during the first three months of the year.

The streamer had predicted it would add 1.45 million subscribers in the US, and 4.9 million internationally.

In fact, new subscribers in the US totalled 1.96 million and 5.46 million globally, extending its global base to about 125 million. 

Netflix said it expects to end Q2 with 131.2 million subs worldwide by adding 6.2 million more (1.20 million US, 5 million from international operations).

Q1 revenue was $3.7 billion, up 40.4 per cent year-over-year, with net income of $290 million. Netflix said revenue growth in Q1 marked the fastest pace in the history of its streaming business, driven by a 25 per cent boost in average paid streaming memberships.