Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. The company has a market capitalization of $62.75 billion, a PE ratio of 339.02 and a beta of 1.27. "But we always approach it on a "have we earned more viewing for people" basis first, rather than a price-first basis".
The results, including higher earnings and an upbeat forecast, were welcome news to investors.
NFLX stock gained as much as 5.5% after the bell Monday.
In other news, Director Richard N. Barton sold 700 shares of the firm's stock in a transaction that occurred on Thursday, April 5th.
Hastings hasn't forgotten when a price increase nearly took down the company.
Netflix has changed the industry in a "profound way", giving it a "significant" lead and making it hard for traditional media companies to catch up, thefly.com cited Deutche Bank analyst Bryan Kraft as saying.
In its first-quarter letter to shareholders the company reported it reached 125 million subscribers, including almost 5.5 million outside the United States, after previously focusing on expanding into foreign markets.
The production pipeline has since increased to levels that rival the world's largest media companies.
Los Gatos, California-based Netflix's first-quarter profit surged to $290.1 million or $0.64 per share from $178.2 million or $0.40 per share a year ago. He indicated the company is already in production on one series based on a Millarworld property, "The Umbrella Academy", and that the acquired company released its first comic book under Netflix auspices.
Expectations were high heading into Netflix's earnings report.
Netflix has surged 35 percent since its previous quarterly report on January 22, making it one of Wall Street's best performers as the S&P 500 has slipped into correction territory and investors worry a nine-year bull market may be ending. But spending is still growing as the company expands production in areas like film, unscripted series and kids programming.
Krysten Ritter as Jessica on 'Jessica Jones'.
Total streaming content obligations grew to $17.9 billion in the first quarter, from $17.7 billion three months earlier, and that doesn't account for the ballooning budget to market shows.
Group operating profit advanced to United States dollars 447 million from 257 million, with the operating margin going up to 12.1 percent from 9.7 percent and the net profit going higher to USD 290 million from 178 million.
"I'm very glad we built Netflix not to be ad-supported, but subscription", Hastings said. Internationally, Netflix added 5.46M subscribers, well ahead of its 4.9M guidance and estimates of 5.02M. Analysts had a consensus revenue estimate of $3.69 billion for the quarter.
The company increased prices by 10% during the final quarter of 2017 to $10.99 a month for the standard Netflix service.
Monday, the company said these deals benefit Netflix with "more reach, awareness and often, less friction in the signup and payment process".