Netflix released their second quarter (Q2) 2017 earnings report last night, and investors couldn’t be happier. There were some rumblings ahead of the release that the earnings report could show signs of crack’s in Netflix’s armor, but those worries have been put firmly to rest. The Q2 report shows that Netflix earned 5.2 million new subscribers in the second quarter of this year alone, thanks in large part to both the success of original series and Netflix’s new push for international content and multilingual support. Netflix stock is sure to become one of the hottest properties on the stock market as the streaming giant shows no signs of slowing or stopping its momentum.
According to CNET, Netflix’s overall second quarter revenue climbed 32.3 percent, up to to $2.79 billion, while Netflix saw a net income of $65.6 million. That pushed Netflix stock up to 15 cents per share, up from 9 cents per share in Q2 2016. Those figures are only slightly below what was predicted and show that Netflix so far has yet to falter in its position as the worldwide streaming leader.
The new figures released by Netflix show that overall worldwide subscriptions now total close to 104 million. 4.14 million of the 5.2 million new subscribers were added outside of the United States, indicating that the international streaming market might be more vital to Netflix’s business model than the (over)crowded domestic market. Netflix has made a significant push for international subscribers lately, opening a massive new European customer support center and hiring thousands of translators to help bring its content to the world. So far the results show that the effort has been well worth it.
The success of several recent original Netflix productions also boosted their Q2 earnings. The highly anticipated fifth season of worldwide sensation House of Cards returned this year, while the controversial but critically acclaimed 13 Reasons Why has likely brought in hosts of new subscribers who came to see what all the buzz is about. Overall, Netflix original series brought in 91 total Emmy nominations this year. Just think what next year’s earnings will look like after Stranger Things comes back for a second season and blows us all away. Can anything stop Netflix at this point?
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