(Reuters) - Popular video streaming service Netflix Inc added fewer subscribers than analysts' had estimated, both internationally and in the United States, in the first quarter, sending its shares down about 3 percent after the bell on Monday.
Netflix, whose original shows include the award-winning British drama "The Crown" and "A Series of Unfortunate Events", added 3.53 million subscribers outside the United States in the quarter ended March 31. (http://bit.ly/2puJ1Yt)
Analysts on average had estimated 3.68 million additions, according to research firm FactSet StreetAccount.
In the United States, the company added 1.42 million subscribers, compared with analysts' average estimate of 1.50 million.
The Los Gatos, California-based company said revenue rose 34.7 percent to $2.64 billion in the quarter.
Net income rose to $178 million, or 40 cents per share, from $28 million, or 6 cents per share.
Netflix, said it expects to add 600,000 subscribers in the United States in the current quarter, above the FactSet estimate of 364,000.
In international markets, Netflix expects to add 2.60 million subscribers, above the average estimate of 2.09 million.
Up to Monday's close, Netflix's stock had risen nearly 19 percent in 2017, outperforming the roughly 5 percent gain in the broader S&P 500 index .
(Reporting by Narottam Medhora in Bengaluru; Editing by Savio D'Souza)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
