Big head

17 April 2017 By Jennifer Saba Follow @jennifersaba

The video service missed subscriber estimates yet still nearly hit 100 mln customers. The plan to spend billions on films and TV series like “Stranger Things” is helping to lift its base. But it’s still far from able to justify a stock price trading at 130 times earnings.

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Netflix on April 17 said net additions for U.S. subscribers were 1.42 million during the first quarter, totaling 50.85 million. Net additions for its international subscriber base were 3.53 million, totaling 47.89 million.

First-quarter revenue increased nearly 35 percent year-over-year to $2.6 billion. Net income rose to $178.2 million, or 40 cents per share, compared to $27.6 million, or 6 cents per share, during the same period a year ago. Analysts were expecting revenue of $2.64 billion and EPS of 37 cents per share.

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