22.04.2020 NETFLIX Dialy Analysis

22.04.2020 NETFLIX Dialy Analysis

Netflix released its first-quarter report on Tuesday after the official trading session was done and the numbers were good. So far the streaming platform has got double the forecasted number of subscribers-15.77 million paid subscribers. This is the biggest number of additional paid subscribers. Analysts were expecting the number to be 8.22 million after Netflix projected 7 million new subscribers about three months ago. Netflix had predicted earnings of $344 million for this quarter and the numbers turned out to be a whopping $709 million, almost double the expected. Revenue grew to $5.77 billion from $4.52 in the year-ago period. Netflix CEO Reed Hastings and the Chief product officer, Greg Peters have said there won't be any price increases any time in the near future. However, management knows things will be changing soon according to a letter sent to shareholders. The latter stated, “Hopefully, progress against the virus will allow governments to lift the home confinement soon, as that happens, we expect viewing and growth to decline. Our internal forecast and guidance are for 7.5 million global paid net additions in Q2.”