Surge of Netflix's subscribers boosts its revenue to new high
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E-mail Xinhua, July 18, 2017
California-based internet entertainment company Netflix on Monday announced that its number of subscribers has increased by 5.2 million in the second quarter of 2017, beyond expectations and generating much more benefits.
Netflix said it added 5.2 million additional new subscribers this quarter, a number well above the 3.2 million of Wall Street's forecast, of which 1.1 million came from the United States and 4.1 million came from overseas.
All these paying customers boosted Netflix's revenue to a new height. Netflix made 2.785 billion U.S. dollars in revenue in the second quarter of 2017, stated the company.
And it had a tidy profit, reporting 66 million dollars in net income, up about 50 percent from the same period last year.
These numbers helped Neflix's stock promptly jump over 10 percent Monday.
However, in its letter to investors, Netflix additionally highlighted the broad range of content it is now serving up.
"We premiered 14 new seasons of global Netflix original series, 13 original comedy specials, 6 original documentaries, 2 original documentary series, 9 original feature films and 7 seasons of original series for kids," the company said.
Netflix's series won 91 nominations in 2017 Emmy Award, including "Master of None," "Unbreakable Kimmy Schmidt" and "Stranger Things."
When it was founded in 1997, Netflix was only considered as a streaming service for movies and television shows, but in 2013, the company started producing its own original dramas.
Netflix also emphasized Monday that it is taking aim at the film business.
"We believe internet TV can similarly reinvigorate the film business. This year we will release 40 features that range from big budget popcorn films to grassroots independent cinemas," Netflix wrote in its letter to investors.
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