Netflix adds seven million subscribers over summer after spring stumble

People walk past the Department of the Treasury

The results should extend Netflix's reign as one of the best-performing stocks on Wall Street, giving the company leeway to spend billions of dollars more on original programming.

Netflix said it expects operating margins at the lower end of the 10 percent to 11 percent range for the full year 2018.

To All the Boys I've Loved Before is one of Netflix's most-watched movies ever, the company said Tuesday.

Netflix never identifies which shows are most successful. American Vandal, Orange Is the New Black, and Sacred Games are all among subscribers' favorites.

While Netflix blamed the poor quarter on bad forecasting, the company's actions suggested programming was a factor. That marked the first time it has exceeded 500 hours in any quarter.

Subscriber growth is key to keeping up with the investments.

Netflix has just released two big-ticket TV series and a couple of original films that it acquired from Ronnie Screwvala's RSVP.

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Netflix shares shot up more than 12 percent in after-hours trading on Tuesday following the release of its favorable third-quarter earnings report. Sales growth has accelerated in recent years, jumping to 32% growth last year from 23% in 2015. Said eMarketer media analyst Paul Verna. Analysts say that even if Netflix does reach its targeted 5 million new subscribers for Q3, Netflix investors can still expect more conservative growth moving forward. Analysts were looking for $0.68 a share.

The company hooked 7 million new streaming subscribers from July to September and for the current quarter, Netflix forecast it will add 1.8 million customers in the United States and 7.6 million in global markets. Analysts were expecting 4.8 million - 600,000 in the U.S. and 4.2 million internationally, according to Nomura Instinet. And even USA growth supposedly remains strong, despite fears of a stagnating market. "That's a really good number for a market that's this mature".

Wall Street doesn't see Netflix turning cash flow positive within the next four years, according to Bloomberg data.

While WarnerMedia CEO John Stankey stated while announcing the new venture, "our job is to build a compelling offer of content....[my job] isn't to build another Netflix", it wouldn't be surprising if landing a blow against the streaming Goliath was in the back of his mind.

Netflix has upended the economics of pay TV by offering customers thousands of programmes on-demand for a monthly fee that's a fraction of the cost of a multichannel cable or satellite package.

Hastings, 58, suggested that he wasn't anxious about the competition.

There is more uncertainty ahead too as competition moves in: Apple has been beefing up its offerings, and Disney is expected to debut its much anticipated direct-to-consumer service next year.

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