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Netflix has 69 million subscribers, $1.74 billion revenue for Q3 2015

Netflix reports $1.74 billion in revenue for the quarter, with a total of 69.17 million subscribers
By: Anthony Garreffa | Business, Financial & Legal News | Posted: Oct 16, 2015 6:37 am

Netflix has just posted its Q3 2015 results, reporting $1.74 billion in revenue with a net income of $29.4 million. Analysts were expecting slightly better results, estimating Netflix would pull in $1.75 billion in revenue.

 

netflix-69-million-subscribers-1-74-billion-revenue-q3-2015_01

 

The streaming video giant added 3.62 million new subscribers in the past three months, which now has Netflix tally up a huge 69.17 million subscribers. Internationally, Netflix added 2.74 million new subscribers while 880,000 new subscribers signed up in the US. Netflix expected more Americans to subscribe, where it estimated that 1.15 million new US subscribers would join the service.

 

Netflix's share value dropped over 14% in after-hours trading, but it quickly rebounded to slide back to around $4 from its closing value.

NEWS SOURCES:Techspot.com

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