Netflix Reported better-than-expected Earnings in the first quarter

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Netflix, Inc. (NASDAQ: NFLX) released its financial results for the first quarter of 2017, with earnings beating estimates and revenues in line with expectations.

According to the company, earning per share for the first quarter was $0.40 per share, which surpassed the previous estimates of $0.37 per share. Revenue in the first quarter reached $2.64 billion, which was in line with estimates of $2.64 billion.

However, numbers of subscribers were 98.75 million, missing expectations of 98.93 million. In addition, the company added 1.42 million streaming subscribers domestically, and added 3.53 million in the rest of the world. The results missed estimates of adding 1.5 million domestic subscribers and 3.7 million internationally.

Netflix also provided guidance for the second quarter. The company expected that EPS for the second quarter to be $0.15 per share, which was lower than Thomson Reuters estimate of $0.24 per share, and revenues to be $2.76 billion, which was in line with Thomson Reuters estimate.

In addition, the company said that in the second quarter, it would add 600,000 subscribers domestically, and add 2.6 million in the rest of the world. While Wall Street estimated to add 364,000 in the U.S. and 2 million internationally.

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