Thanks to investments in original programming, with popular shows such as Orange is the New Black and House of Cards, Netflix added 2.5 million new subscribers in the second quarter of 2015.
Fortune reports the streaming juggernaut now has a total 65.6 million subscribers, and the company expects to be at a solid 69 million subscribers by the end of October.
Fortune’s Jeff John Robertson credits the company’s strong international efforts for the spike in users, as well as the addition of critically acclaimed original content.
Netflix reduced share prices this week from $700 to near $100, with hopes of drawing in more everyday investors. The second quarter’s good news also helped Netflix’s shares in after-hours trading on Wednesday.
Robertson writes:
The company reported a 6 cent per share profit (based on the post-split share price). This would be equivalent to 42 cents prior to the split, which beat the 28 cents analysts predicted. But the amount fell well short of the 16 cents EPS (post-split) the company posted in the same quarter a year ago. Revenue for Q2 was $1.481 billion which compares to $1.223 billion last year.
42 million of Netflix users are located in the United States, with the other 23 million residing internationally.
The company expanded to New Zealand and Australia in March, according to Bloomberg, and will soon be available in Japan, Spain, Italy, and Portugal.
COMMENTS
Please let us know if you're having issues with commenting.