Netflix stock price surges after hours on earnings report

Netflix								LOST IN SPACE

Netflix reported Q1 earnings today. It now has 125 million subscribers. That compares with the company's forecast for 6.35 million additions, and the Street consensus for 6.6 million.

"Overall, this was a "grand slam quarter" for Netflix and should put any lingering worries to rest", Daniel Ives, head of technology research at GBH Insights, wrote in a client note.

"It shows the company's aggressive worldwide expansion strategy is bearing fruit and putting major fuel in the company's growth engine for the rest of 2018 and beyond", Ives wrote.

Wang and Sarandos were mum on a pair of recent reports that Netflix was circling potential acquisition targets including EuropaCorp, Luc Besson's film studio, and Los Angeles-based billboard company Regency Outdoor Advertising.

"We've outperformed the business in a way we didn't predict", David Wells, Netflix's CFO, said on a conference call with analysts Monday. "That being said, we do see M&A as a perfectly fine tool for us to help find interesting assets that help us grow the business".

The stock has surged 37% since January when Netflix reported fourth-quarter results that included a record-breaking 8.3 million new subscribers.

Viewers were drawn in by new seasons of shows including The Crown and Stranger Things - with the latter cementing its place as a "global phenomenon" following the release of its second series.

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Netflix claims it will invest up on TV shows and movies from 2018. But there's at least one area it's not planning to expand into news programs.

Netflix demonstrated how well its formula works again this week with the release of its first-quarter earnings. The original version of this piece of content can be viewed at https://stocknewstimes.com/2018/04/16/vetr-upgrades-netflix-nflx-to-hold.html.

"We have big plans for content growth and you should expect that to continue", Chief Executive Reed Hastings said on a post-earnings webcast. It also reportedly coughed up $300 million to hire Ryan Murphy, the power producer behind "Glee".

Walt Disney Co will stop supplying new movies to Netflix starting next year and will start its own streaming service for families.

Or at least the subscriber growth figures are proof that those splurges are paying off at the moment. It's perhaps not surprising that Netflix is adding subscribers quickly outside the US, where the company has made a concerted effort over the last couple of years in its quest to become a global entertainment powerhouse. Netflix reiterated that it will continue to borrow money as needed so it can afford to keep spending. Even Facebook is pushing deeper into video content.

The belief among analysts like Deutsche Bank's Brian Kraft is that Netflix has too much of a head start to lose now.

Netflix has changed the industry in a "profound way", giving it a "significant" lead and making it hard for traditional media companies to catch up, thefly.com cited Deutche Bank analyst Bryan Kraft as saying.

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