Netflix Just Kills It

Streaming media giant Netflix reported stellar earnings for the company’s third quarter and reported over 130 million paid subscribers worldwide. The company’s stock is up over 6% on the day.

Netflix said revenues in the third quarter were $3.99 billion and net income of $403 million. Revenues were up 34% from a year ago.

Netflix had 130.4 million subscribers around the world and 56.9 million in the U.S. The company has over 137 million total subscribers worldwide. It is projecting 138 million paid subscribers in the fourth quarter and over 146 million subscribers total.

The company is mainly focused on streaming customers but says there are over 2.8 million subscribers to its original DVD service in the U.S., down from 3.5 million a year ago.

Netflix recently announced Albuquerque, NM as the site of a new US production hub, where it
anticipates bringing $1 billion dollars in production over the next 10 years and creating up to 1,000
production jobs per year.