Thanks to strong domestic and international growth, Netflix added nearly 5 million subscribers in the first quarter of 2015.
The popular streaming platform now boasts a total of 62.3 million subscribers, 41.4 million of which are based in the United States. Netflix expects to reach 64.8 million subscribers by the end of June, as its international expansion continues. Over the course of the past three months, Netflix subscribers racked up 10 billion hours of video streaming, amounting to almost 2 hours of streaming per subscriber each day.
Netflix generated $1.57 billion in revenue between January and March, a 24-percent increase over last year's March quarter. Meanwhile net profit declined by almost $30 million mainly due to investments related to the company's international expansion. Netflix shareholders were content with the latest results, as a 15-percent spike in the company's stock price clearly indicates.
This chart shows Netflix's wordwide subscriber growth.
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