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Netflix sees strong customer growth continuing
2016-01-20 08:30:00| Telecompaper Headlines
(Telecompaper) Netflix reported better-than-expected customer growth at its international operations in the fourth quarter. The streaming video service added 4.04 million customers outside the US, more than the 3.5 million forecast, to reach a total of 30.02 million at the end of 2015. Customer growth in the US was slightly below expectations, at 1.56 million to 44.74 million. With a total 74.76 million streaming customers at year-end, Netflix added over 17 million customers in 2015. The company said it passed the milestone of 75 million customers on 01 January, and the recent launch in 130 more countries is expected to take it to over 80 million by the end of Q1 2016. Revenue in the fourth quarter rose to USD 1.67 billion from USD 1.31 billion a year ago, in line with the company's forecast. Net profit fell to USD 60 million or 10 cents a share from USD 65 million or 19 cents a share a year earlier due to losses in new markets and costs of original content. The loss at the international operations swelled to USD 109 million in the quarter, but was smaller than the company's guidance of USD 117 million. In Q1 the international loss is expected to increase further to USD 114 million.
Tags: customer
strong
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continuing
Category:Telecommunications