Netflix Adds 5.2 Million Subscribers


Netflix, the streaming media giant, reported second quarter revenues for 2017 of $2.78 billion, up 32.3% year ago.

The company added 5.2 million subscribers in the quarter, which exceeded analyst expecations. Shares in Netflix hit an all-time high in after hours trading on Monday evening to $178.98.

Netflix reported a total of 103.95 million subscribers worldwide. International subscribers made up nearly 50% of the total number and added 4.14 million new subscribers.

The company’s investment in original programming is paying off. Last week, the Television Academy nominated 27 Netflix original programs with 91 Emmy nominations, nearly double last year’s tally. With five of the 14 total nominated best series contenders (Stranger Things, The Crown, House of Cards, Master of None and Unbreakable Kimmy Schmidt), Netflix had the most nominated series of any network.

The company’s second quarter net income was $65.6 million.

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