Netflix: We are just getting started in India; Q3FY2019 earnings

Netflix: We are just getting started in India; Q3FY2019 earnings

Netflix: We are just getting started in India; Q3FY2019 earnings

Earnings obliterated Wall Street predictions as well, coming in at 89 cents a share-21 cents above the estimate.

As suggested by analysts in a Yahoo Finance report, Netflix is quietly gaining its foothold in the Indian market.

Netflix never identifies which shows are most successful.

The number of both USA and global subscribers grew at a clip over the month, with Netflix adding 1.09 million new subscribers in the United States and 5.87 million internationally. Nor does the company release viewership figures for programs, contending that its subscriber growth demonstrates the popularity of its entertainment slate.

The surge came as Netflix premiered a record amount of original programming, including new seasons of Orange Is The New Black and BoJack Horseman.

With the India-focused series like "Sacred Games", "Ghoul" and "Lust Stories" among others, Netflix has touched upon a number of new consumers, despite having a marginally higher price bandwidth than its arch-rival Amazon Prime in the country.

Overall, Wall Street continues to be enamored with the streaming service.

For now, Netflix said it was "super encouraged with India" and the growth that they have got early on but the company is aware that it's going to be somewhat of a tough market going ahead right.

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Analysts estimate that it added about 676 hours of original programming in the USA in the most recent quarter - 135% more than in the same period a year ago.

Revenue: $4 billion. Analysts were expecting $4 billion, according to Bloomberg. However, despite the unexpected cold shower last quarter, Netflix bulls remain confident the stock will rally.

Netflix used its third-quarter earnings release a year ago to forecast spending for 2018, projecting it would spend $7 billion to $8 billion on movies and TV shows.

For the current quarter, Netflix forecast it will add 1.8 million customers in the United States and 7.6 million in worldwide markets. The number of people paying for cable or satellite has fallen in recent years, denting profit at the world's largest media companies and triggering a wave of mergers.

The streaming giant also announced fourth-quarter subscriber growth that blew past expectations.

But the company continued to burn through cash to pay for its programming. Disney and AT&T Inc, the parent of Warner Bros. and HBO, are each looking to introduce new services next year - after completing takeovers of other companies worth a combined $160 billion.

Hastings, 58, suggested that he wasn't anxious about the competition. "The game is on".

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