Your quarantine binging boosts Netflix profits [Los Angeles Times (CA)]
Netflix, Inc. (NFLX)
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Source: Los Angeles Times
The coronavirus outbreak has roiled much of the media and entertainment industry, but not the king of all streaming. Netflix on Tuesday reported a record increase in subscribers as the Los Gatos company reaped the benefits of a massive increase in home viewing caused by stay-at-home measures intended to curb the spread of the coronavirus. The company gained 15.8 million global subscribers, surging ahead of Wall Street’s expectations of 7.6 million. Netflix generated a net income of $709 million or $1.57 earnings per share, more than double from a year ago. Revenue in the quarter rose 28% to $5.77 billion during the same period. Analysts surveyed by FactSet had estimated Netflix would make $5.75 billion in revenue and income of $753 million in the first quarter. Netflix had forecast it would add 7 million global subscribers in the first quarter. The company had added 9.6 million global subscribers in the first quarter of 2019, its previous all-time quarterly high. “While everyone in th
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- Netflix agrees to buy Warner Bros. Here's what that will look like [USA TODAY]USA TODAY
- Netflix announces deal to buy Warner Bros., HBO Max [MSNBC.com]MSNBC.com
- A plea to Netflix's Ted Sarandos: Don't screw up Warner Bros. and HBO [Los Angeles Times (CA)]Los Angeles Times
- How Ted Sarandos became the ultimate Hollywood gate-crasher [Los Angeles Times (CA)]Los Angeles Times
- Netflix Only Buying Warner Bros. To Sabotage A Rival Streamer? [Yahoo! Finance]Yahoo! Finance
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