This company has announced its second quarter results ended June 2018. The company fell short of some of its key guidance targets, exceeded other estimates, and highlighted the progress of some high-profile competitors.
For the next quarter, Netflix is aiming for 5 million net new subscribers worldwide. That total should be divided into 650,000 new U.S. accounts and 4.35 million international additions. Total streaming subscribers should land near 135.1 million, 24% above the same period of 2017. At the same time, total revenues are seen rising 34% higher, which points to another round of year-over-year average service pricing increases.
Global streaming revenues rose 43% over the year-ago period, driven by 26% more subscribers and a 14% higher average selling price per member. Netflix is both raising subscription prices on a market-by-market basis and encouraging users to spring for higher-end plans with better support for 4K video and more concurrent streams per account.
The company only added 5.15 million subscribers, about one million less than forecast. Domestic additions were only a little more than half of its projections, while it just added 4.5 million subscribers internationally.