Netflix's (NFLX) Buy Rating Reaffirmed at Bank of America Corp


Netflix added 1.42m streaming subscribers in the United States and 3.53m elsewhere in the first quarter of 2017, slightly shy of the 1.5m (US) and 3.7m (rest of the world) it had previously told analysts it expected to add.

Netflix added almost five million subscribers worldwide in the first quarter of 2017, down from more than seven million subscribers it added the quarter before that.

In the quarter, Netflix, based in Los Gatos, Calif., reported profits of 40 cents a share, demolishing last year's 6 cents profit. There are now 44.5 million paid global subscribers, which represents 48% of total subscriber base.

US streaming net additions: 1.42 million vs. the firm's estimate of 1.52 million.

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Using HBO as an example, Hastings said while over 10 years Netflix has grown to 50-million, HBO has also continued modest growth - meaning that the growth of one service doesn't necessarily mean the demise of the other.

Netflix (NFLX) is estimated to have ~19.0 million subscribers in Europe. The Internet television network reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.37 by $0.03.

Shares of Netflix are up more than 30 percent in the past year. That $2.5 billion figure Netflix pulled in during Q1 represents the lion's share of its overall revenue, which climbed above $2.6 billion when factoring in its DVD business. Global subscriber number was guided to 2.60 million, also ahead of his estimate and the consensus of 1.50 million and 1.48 million, respectively.

"Buttressing this activity is the substantial earned media coverage around the Netflix brand, technology and content we generate globally through events and activities aimed at journalists and social media influencers". Revenue was projected to increase 35 percent year over year to $2.64 billion in the first quarter.

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Shares of Netflix (NASDAQ:NFLX) opened at 139.76 on Monday.

The company blamed the 22% year-over-year decline in worldwide subscribers to an unusually large global growth last year.

A lot of this has to do with the fact that the latest season of the runaway hit House of Cards was pushed back, which attracted millions of new users to come rolling in during the recent quarter. Past year the firm spent a similar amount on marketing across its entire operation.

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