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Netflix beats expectations on profit and subscribers


Netflix topped expectations Thursday as it reported 9.3 million new subscribers and profits of $2.3 billion in the first three months of the year.
Silicon Valley-based Netflix had bet heavily on its content lineup to win fans, with subscribers now totaling 269.6 million.
“With more than two people per household on average, we have an audience of over half a billion people,” Netflix said in a letter to investors.
“No entertainment company has ever programmed at this scale and with this ambition before.”
Netflix shares slipped more than 3 percent to $589.64 in after-market trades, apparently due to the company saying sales in the current quarter might be less than market expectations.

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